Fidelity Investments last week launched a new sector-specific portfolio designed for the retail market.

Dubbed the Select Business Services and Outsourcing Portfolio, the fund will track firms that sell outsourcing services to the business world, said a Fidelity spokesman. "It's a good niche to be in because it is a growing sector," he said.

Though he declined to disclose the identities of specific companies in the fund, he said it would include institutions like temp agencies and data processors.

The fund will be managed by Michael D. Tarlowe, who has been at Boston- based Fidelity since 1994.

Fidelity now has 38 "select," or sector-specific, funds that cover such industries as health care and technology.

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