Fidelity launches three new adviser funds

Fidelity Investments of Boston today launched three funds, including the firm’s first convertible-securities fund.
MAR 11, 2009
By  Bloomberg
Fidelity Investments of Boston today launched three funds, including the firm’s first convertible-securities fund. The Fidelity Advisor Global Balanced Fund, Fidelity Advisor Worldwide Fund and Fidelity Advisor Convertible Securities Fund — are part of Fidelity’s Advisor Funds, which are sold exclusively through financial advisers at brokerage firms, banks and insurance companies. At least 80% of the convertible-securities fund’s assets will be invested in convertible securities, but may also invest in other securities. Convertible securities are typically issued to raise money and are typically bonds or preferred stocks that can be converted into another form of security — usually common stock. The Global Balanced Fund will include exposure to global stocks and bonds, while the Worldwide Fund is a global-equity fund. Fidelity Investments had assets under custody of more than $2.5 trillion, including managed assets of more than $1.2 trillion, as of Jan 31.

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