Fidelity said that its new equity income funds are designed to meet investors’ demand for equity income strategies.
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Each fund seeks reasonable income and, in pursuing this objective, will also consider the potential for capital appreciation, the company said in a statement.
Fidelity Management & Research Company (FMRCo), the funds’ manager, will invests each fund’s assets in securities issued anywhere in the world, including the US FMRCo normally invests at least 80% of each fund’s assets in equity securities and normally invests primarily in income-producing securities.
"In the past decade, increased volatility in the equity markets and historically low U.S. bond yields have created new challenges for many investors," said Brian Hogan, president of Fidelity’s Equity Group.
"Against this backdrop, investor demand for income-producing equities has been growing. With our new global equity income funds, shareholders can benefit from Fidelity’s strong team of investment professionals to help deliver a global equity income strategy that meets the needs of equity income investors, while providing potential income generation from a broader source of dividend paying companies than in the US alone," Hogan added.
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