In an era when most companies like to strut their own stuff, Fidelity International appears to be marching to a different tune. Financial News reports that two new multimanager funds introduced early this year do not include any homemade offerings. Making the grade for the new U.K. equity fund include products from Artemis Investment Management, Schroder Investment Management, JO Hambro Capital Management, Framlington, Martin Currie and Cazenove Capital Management. A Fidelity spokeswoman noted that this is not the first time Fidelity has not selected one of its own for a new fund, though a second multimanager fund at Fidelity does tap into Fidelity funds. 

The reason? Fund manager Chris Ralph, she says, will "pick the best blend, which doesn't necessarily mean the best performing funds right now." Ralph himself told FN that while "the underlying funds will change over time," the initial lineup he feels "will appeal to the wider adviser and investor community."