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Fidelity fund takes £43.1m in four weeks


Fidelity Investments Extra Income Fund has raised £43.1m since its launch on February 25.


The fund manager anticipates that sales of the fund, spurred on by the closing down sale of Peps, will reach £65m by the end of the tax-year on April 5.


The fund invests in corporate bonds, high yield bonds and gilts. It has an estimated gross yield of 7.5 per cent and was recently awarded a frAA rating from Standard & Poor&#39s Fund Research.


The award was in recognition of the track record of the fund manager Ian Spreadbury who also runs the MoneyBuilder Income Fund.

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