Fidelity has launched three mutual funds with a long-term focus designed for sale by financial advisers—the Fidelity Advisor Global Balanced, Fidelity Advisor Worldwide and Fidelity Advisor Convertible Securities funds.

The thinking is that if an investor has a widely diversified portfolio, they will be better prepared for retirement, said Martha B. Willis, executive vice president of Fidelity Investments Institutional Services Co. Diversification “can mitigate risks and add significant value to a client’s portfolio,” she told The Wall Street Journal.

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