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Fidelity sets the wheels in motion

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TRAM riders considering investing in a mutual fund are being given encouragement from Fidelity Investments.

It has became the first mutual fund manager to banner itself across a forest green tram.

It is part of a visible move by fund managers to promote their companies.

The Securities and Futures Commission (SFC) is in the process of reviewing a Investment Funds Association (IFA) endorsed proposal to allow companies like Fidelity to advertise on radio and television.

Mutual fund managers and unit trust providers can advertise their company in print, but any printed advertisement promoting their products rather than their image must be accompanied by a warning.

If the product is a mutual fund, for example, the advertisement might read: ''Warning: funds may go up and down''.

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