State Street Research and Management Co., a money manager in Boston, has introduced a bond fund for investors seeking high monthly income.

The Metropolitan Life Insurance Corp. unit, which manages $38.9 billion, is the latest to roll out a so-called strategic income fund. These funds invest in U.S. Treasuries, foreign bonds, and high-yielding corporate bonds.

The strategy behind these portfolios is to diversify risk across different markets. Historically, the performance of bonds in these sectors has not been closely correlated with one another.

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