Fidelity to integrate private assets into default investment strategy via LTAF

Diversified Private Assets LTAF

Fidelity International plans to integrate private assets in its default investment strategy for UK-based workplace pension schemes via its first Long-Term Asset fund.

The firm's £16.9bn default investment strategy, FutureWise, will become the first investor in Fidelity's Diversified Private Assets LTAF – which received approval from the Financial Conduct Authority earlier this year. The LTAF was launched to provide exposure to globally diversified private markets across private equity, private credit, infrastructure, real estate and natural resources, as well as public assets "for liquidity purposes". It was designed for defined contribution (DC) pension schemes, but Fidelity said the vehicle will also be suitable for professional investors with lo...