Softly hold jam? (8)

I believe the answer is:

preserve

'jam?' is the definition.
(jam is a kind of preserve)

'softly hold' is the wordplay.
'softly' becomes 'p'.
'hold' becomes 'reserve' ('reserve' can be a synonym of 'hold').
'p'+'reserve'='PRESERVE'

(Other definitions for preserve that I've seen before include "Particular interest" , "Eg, jam" , "Maintain, protect from decay" , "Jam or marmalade" , "Maintain; keep safe" .)

I've seen this clue in The Telegraph.

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