Fidelity International has launched a fund focusing on investment opportunities in the communication services sector.
The Fidelity Global Communications Fund aims to offer clients unique exposure to the newly reformed GICS (Global Industry Classification Standard) Communications Services sector, actively identifying the very best investment opportunities from across the world, including emerging markets, with the aim to provide long-term capital growth.
According to Fidelity, the unprecedented growth and global impact of communications services companies in recent years provides a compelling opportunity for active investment managers to harness the fast-rate of change and innovation in this sector.
The Fund will be managed by Sumant Wahi, recently appointed as portfolio manager. Wahi has 18 years' experience, initially working in technology companies and in the latter part working as a research analyst covering technology, media and telecommunication (TMT) companies. He began his investment career in 2008 at Redburn where he worked his way up to head of Technology Hardware Research, before joining Fidelity in 2014 as a senior equity analyst.
Sumant Wahi, portfolio manager, Fidelity International said:"In recent years, the way people communicate, access entertainment content and other information has changed considerably; due to the evolution and subsequent integration between internet, media and telecommunications companies. Communication services act as ‘a connective tissue' across sectors and geographies providing unique and attractive opportunities in different regions of the world."
The fund is an open-ended investment company established in Luxembourg as a Sicav.