BOSTON - Fidelity Investments plans to launch an intermediary-sold fund that invests in the stock of companies with below-investment grade debt.

The Fidelity Advisor Leveraged Company Stock Fund - modeled after a fund launched last week that is sold directly to investors - will launch Jan. 12, according to a Fidelity news release.

The fund will be managed by David Glancy, a 10-year veteran in Fidelity's high-income division, the release said.

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