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UK's Smile Joins Forces With Fidelity To Offer Online Funds Supermarket

by Philip Morton, InvestorsOffshore.com

24 April 2001

Smile, the Internet banking arm of the UK's Co-operative Bank, has joined forces with Fidelity, a leading fund supermarket, to offer Smile customers a new service called "Smile Invest", which provides an online funds supermarket facility to its account holders.

Fidelity's funds supermarket currently offers 474 funds from 32 providers which means that users of Smile will have a comprehensive range of funds available to them. The site will highlight funds on the basis of past performance, charges and the reputation of the fund managers. Investors will receive a consolidated statement of their transactions to help them value their portfolio, which can be assembled from a variety of investments, including index trackers, geographical and ethical funds.

Smile has also said that it is looking to add to its customer offerings with an Internet share dealing service, as well as mortgages and insurance products.

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