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Toronto-based Fidelity Investments Canada ULC on Wednesday announced the launch of Fidelity Investment Grade Total Bond Fund.

The fund is a flexible fixed income strategy that seeks to give a steady flow of income and the potential for capital appreciation.

Portfolio managers Jeff Moore and Michael Plage will be active in targeting multiple sources of return from a full spectrum of issuers in the U.S. and around the world, with an emphasis on investment grade fixed income securities, the firm says in a news release.

A currency neutral version of the new fund is also available.

“Given low government bond yields and the prospect of rising interest rates, investors need a fixed income solution that is flexible and can target multiple sources of income from issuers around the world,” says Rob Strickland, president of Fidelity Investments Canada, in a statement.

“That is why we are proud to launch the Fidelity Investment Grade Total Bond, which is designed to meet this need and draws on the experience of Jeff and Michael and Fidelity’s global resources,” he adds.