Fidelity launches income version of Spreadbury's latest bond fund

Fidelity Worldwide Investments has launched an income version of Ian Spreadbury's reduced duration bond fund.

The strategy, called Fidelity MoneyBuilder Reduced Duration, launched earlier this year, and as the name suggests it offers investors a lower duration than  Spreadbury's (pictured) flagship MoneyBuilder Income fund. Initially launched with an accumulation share class only, the group has now expanded this to enable investors to take an income from the product. The income share class - launched today - currently has a yield of 3.09%, compared to the £3.3bn MoneyBuilder Income fund which has a higher yield of 3.7%. Fidelity has opted to launch an additional share class amid a renewed ...