Fidelity Investments this week announced the opening of a taxable bond fund that will diversify across four fixed-income sectors.
The Strategic Income Fund's objective is to seek high current income and capital growth. It will invest in high-yield securities, U.S. government and investment-grade securities, emerging market securities, and developed securities in foreign markets.
"Fidelity Strategic Income Fund will emphasize the versatility and strength of our fixed-income research department," said Robert C. Pozen, president of Fidelity Management and Research Co.
The fund will be available direct and through Fidelity investment centers. A similar portfolio, the Advisor Strategic Income fund, has been available through banks since 1994.
Separately, the Boston-based company said that it has set up a home page for the roughly 180 fund companies that sell through its FundsNetwork no- transaction-fee fund supermarket. The page will allow companies to view the activity on all sales of their funds through the mart, including those sold through advisers and correspondents, a spokesman said.