Fidelity International has added two bond funds to its UK-domiciled index range.
Covering UK Gilt and the corporate bond markets, the funds are the first bonds funds in the US-headquartered firm’s passive range.
The Fidelity Index UK Gilt Fund is benchmarked to the FTSE Actuaries UK Gilt index.
The Fidelity Index Sterling Corporate Bond Fund, meanwhile, tracks a benchmark in the sterling corporate bond market provided by iBoxx and focusing on large caps.
John Clougherty, head of wholesale, Fidelity International, said: “There is currently a total £66.5 billion (€74 billion) invested in passive fixed income retail funds in the UK market and this is only set to increase as investors look for efficient, low cost access to the asset class.”
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