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Product category: General insurance
News Release from: Fidelity International | Subject: Insurance
Edited by the Insidemoneytalk Editorial Team on 28 September 2007

Fidelity International Corporate Bond
Funds steer investors through credit
crunch

MoneyBuilder Income returns 1.01% and Sterling Bond Fund 2.22% over July and August 2007

Fidelity Investment Funds MoneyBuilder Income and Fidelity Investment Funds Sterling Bond Fund, which invest in sterling corporate bonds, achieved positive returns during the recent period of market volatility, beating the sector average Over July and August 2007, as volatility created by sub-prime mortgage defaults rippled through bond markets, MoneyBuilder Income returned 1.01% and Sterling Bond Fund 2.22%, reflecting portfolio manager Ian Spreadbury's multi strategy approach and careful positioning of the portfolios

In the same period, the average performance of other leading corporate bond funds was 0.67%.

Ian Spreadbury, Portfolio Manager of Fidelity Investment Funds MoneyBuilder Income Fund,says, "The portfolios were well positioned for volatility, with significant allocations to governments and the more defensive sectors and the inclusion of credit risk where I had high conviction in each of the securities - for example our selective high-yield exposure.

"Portfolios are still positioned conservatively, as volatility issues continue to play out, but we are well equipped to capture market growth when conditions return to normal." Fidelity International Limited ("FIL") and its subsidiary companies serve the major markets of the world by providing investment products and services to individuals and institutional investors outside the US.

The FIL Organisation manages a total of £145.0 billion of assets.

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