Fidelity launches global high yield fund for Spreadbury

Fidelity Worldwide Investment has expanded its bond fund range with the launch of a global high yield fund for managers Ian Spreadbury and Peter Khan.

The Fidelity Global High Yield fund, launching in March, is an unconstrained portfolio of 150 securities, primarily made up of sub-investment grade BB or B-rated credits. Khan, formerly a fixed income trader, and Spreadbury also have the flexibility to invest in CCC-rated securities, although the focus will be on more highly-rated  securities. Bonds close to home that fall into their investment universe include the Daily Mail and General Trust's senior unsecured debt. The group is launching the fund, a UK-domiciled OEIC sitting in the IMA £ High Yield sector, to take advantage of t...