Fidelity Investments has introduced a series of fund-of-funds wrap portfolios in Canada.
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The Boston company initiated Fidelity Managed Portfolios — six risk-targeted fund-of-funds wrap portfolios — that will be available to financial advisers, beginning Wednesday, to invest in a mix of equities and fixed-income securities.
The portfolios, managed by Fidelity's asset allocation team, invest in a mix of Canadian, U.S., and international equities and bonds, including global real estate.
Fidelity Investments is Canada's eighth-largest mutual fund company and a part of the Fidelity Investments organization of Boston. In Canada, Fidelity manages $43 billion of mutual fund and corporate pension plan assets.
