Fidelity is renaming its Sterling Bond fund under the ‘Strategic' label in order to more accurately reflect the vehicle's investment remit.
Managed by Ian Spreadbury since launch in April 2005, the £369m portfolio will become Fidelity Strategic Bond fund on 22 January 2010, subject to FSA approval. Its investment objective and performance benchmark will remain unchanged.
Fidelity head of retail sales Peter Hicks believes the change will give investors more clarity about the fund's remit.
"We believe this name change will make it simpler for advisers and their clients to identify the fund at a time when many investors are seeking a fixed income product with a flexible strategy - one which looks to achieve an optimum asset allocation by investing across high yield, investment grade, inflation linked and government bonds," he says.
"The fund is not restricted to UK-issued bonds and seeks to invest where there is value, including overseas bonds, where holdings will be hedged in order to manage currency exposures.
"It also has the ability to use wider Ucits III investment powers for further investment flexibility."
Over three years to 7 December, the fund is ranked first out of 48 vehicles in the IMA Strategic Bond sector, up 16.2% against an average 1.6% rise, according to Morningstar.
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