Fidelity Investments has launched a multi-asset-class fund that is focused on outpacing inflation.
   The Fidelity Strategic Real Return Fund will be structured around four sub-portfolios composed of about 30% in inflation-protected debt securities, 25% in floating-rate loans, 25% in commodity-linked notes and related investments, and 20% in REITS and other real estate investments.
   The fund will be offered as both a retail no-load fund and in the form of five Advisor share classes. Fidelity now has 81 Advisor Fund products. This is Fidelity's third strategic fund using multiple asset classes.
   The fund will be co-managed by Derek Young and Chris Sharpe, who co-manage several other Fidelity funds. Young joined Fidelity in 1996 and Sharpe started with the company in 2002.
   "Fidelity Strategic Real Return Fund is a product that has the potential to provide two distinct benefits to our customers," says Sanjiv Mirchandani, executive vice president of Fidelity Personal Investments. "First, it will seek to provide investors with greater portfolio diversification by investing in securities that are not conventional domestic equities and bonds, and second, it presents the opportunity for solid investment results when inflation rises."