Fidelity Investments will launch an international real estate fund in September, the firm disclosed in an SEC filing on June 18.

The new fund, called Fidelity International Real Estate, will be managed by Steve Buller. Buller, who joined the firm in 1992, also manages Fidelity Real Estate Investment Portfolio, a fund with $3.1 billion in assets.

Fidelity's other real estate fund, the Fidelity Real Estate Income Fund, has $421.7 million in assets.

Looking Overseas
Fidelity International Real Estate Fund	Percent of Assets
Management Fee	0.73%
Distribution Fee	0.72%
Total Operating Fee	1.45%
Redemption Fee	2.00%
Source: Fidelity SEC filing

Fidelity spokesperson did not immediately return a call seeking comment on the marketing of the fund.

The fund's preliminary prospectus included standard language on market timing: "the fund does not permit market timing...Accordingly, the fund may reject any purchase orders, including exchanges, from market timers or investors that, in FMR's opinion, may be disruptive to the fund...FMR may consider an investor's trading history in the fund or other Fidelity funds, and accounts under common ownership or control."

The new fund will have a two percent redemption fee on shares held less than 90 days. 

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