Fidelity Institutional launches new platform for alternative investments

Fidelity InvestmentsFidelity Institutional, a division of Fidelity Investments, announced on Monday the launch of a new platform designed to streamline access to alternative investments.

The platform will provide education, research and third-party due diligence, as well as a access to a range of alternative investment products, including hedge funds, private equity funds and ’40 Act mutual funds, for all clients.

The platform will also provide access to third-party due diligence and research reports through alliances with CAIS, Goldman Sachs Asset Management and Morningstar. Financial advisers and family office professionals will also have access to a list of alternative investment funds with reduced custody fees.

“This platform was built on insights from our clients regarding the challenges they face incorporating alternative investments into their clients’ portfolios,” Mark Haggerty, the head of Fidelity Institutional’s product group, said. “Delivering access to leading products was a priority, but we also invested in providing institutional-quality third-party due diligence, insights and education and a simplified and consistent pricing structure. These features will be critically important to helping our clients effectively leverage this investment strategy.”

Fidelity also plans to host several alternative investment forums designed to keep clients up-to-date on the industry.

CAIS will provide access to a centralized list of hedge funds at reduced minimums, independent third-party due diligence and monitoring from Mercer, portfolio construction tools and an automated subscription process. GSAM will provide access to hedge fund and private equity managers’ portfolios across a number of alternative investment strategies, and Morningstar will provide an adviser education center, as well as a list of alternative mutual funds.

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