Fidelity FundsNetwork has developed five platform-based multi-manager portfolios with classes for both fee-based and commission remunerated advisors. Designed to mitigate the increased regulatory burden under the Retail Distribution Review rules, the FIL FundsNetwork PortfolioManager Funds enable advisors to offer clients a range of unfettered multi-manager funds to match different risk profiles, from defensive through to aggressive, depending on individual client risk profiles. To be accessible from 4 February 2008, the portfolios are designed to be used with the platform’s planning tools as well as its full range of tax wrappers – including ISA, Sipp, Bonds and Trusts. The five portfolios can invest across the spectrum of more than 1,100 mutual funds available on FundsNetwork, as well as specialist vehicles typically not open to retail investors. They are to be managed by Fidelity’s multi-manager team. David Dalton-Brown, head of FundsNetwork, said: "This is a major initiative from Fidelity FundsNetwork to help independent advisors tackle the regulatory changes which are expected to sweep across the industry in 2008. Phase one is the launch of the PortfolioManager Funds and we are exploring further investment solutions ideas for future development, such as discretionary managed services."