In response to demand by bank trust departments and financial advisers, Fidelity Investments has added three new mutual fund portfolios to its Advisor Funds.
The Boston-based fund company on Monday introduced a California municipal bond fund, a portfolio that invests in midsize companies, and another that invests in large corporations.
The mid-cap fund, managed by Jennifer Uhrig, is designed for long-term, aggressive investors. The large-cap fund will primarily invest in companies with a market capitalization of $1 billion or more.
Fidelity manages $373.1 billion of assets, and is the largest mutual fund company in the world. Its Advisor Funds family, which holds $24.4 billion of assets, is sold through financial intermediaries including banks, financial planners, and stockbrokers.