Fidelity Investments has launched a multi-strategy credit fund, expanding its alternative investments product lineup, which includes 35 funds and $9.8 billion in assets under management, as of March 31.
Fidelity Multi-Strategy Credit Fund, a closed-end interval fund for financial advisers, will conduct quarterly repurchase offers between 5 percent and 25 percent of the fund's outstanding shares at net asset value. The fund seeks to provide a high level of current income and capital appreciation through investments across a variety of high-income oriented asset classes, including both liquid and illiquid securities. The fund intends to pursue these objectives by opportunistically rotating across the entire credit spectrum based on the current and expected macro environment.
According to Fidelity, Fidelity Multi-Strategy Credit Fund will seek to allocate to foundational credit, which includes direct lending, leveraged loans and high-yield bonds, and opportunistic investm