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Fidelity launches sterling bond fund

Fidelitys new sterling bond fund hopes to take advantage of asset allocation between government, corporate and high yield bonds to generate strong returns.

Dealing in shares in the sterling bond fund begins on April 18. The fund will be managed by Ian Spreadbury, its launch price remaining fixed at 25p until noon on April 29, 2005.

Early investors will benefit from a reduced initial charge of 3 per cent until noon on May 31. The annual charge will be 1 per cent and the initial charge after the special offer period will be 3.5 per cent. Initial commission for advisers is 3 per cent and trail commission 0.5 per cent.

The minimum lump-sum contribution will be 1,000. A monthly savings plan is also available for a minimum regular contribution of 50.

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