Fidelity Investments has unveiled a new multi-asset income fund aimed to meet the increasing demand among American investors for income.
The fund, which is available only through financial advisors, will provide a combination of income and capital appreciation.
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The income-oriented strategy will invest across the entire spectrum of income-producing securities, including investment-grade bonds, non-investment-grade bonds, and dividend-paying equities.
The fund will be managed by Adam Kramer alongside two co-managers, Ford O’Neil and Jim Morrow.
In his role, Kramer will manage the asset allocation and security selection of the portfolio. He will utilize the best ideas of the high-income research team, in addition to the best investment-grade ideas identified by O’Neil and the best equity ideas identified by Morrow.
The fund will capture gains in rising markets and mitigating losses in declining markets. It aims to provide high level of current income, capital preservation in declining markets, capital appreciation in rising markets and add alpha through both asset class and security selection.
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By GlobalDataThe fund will benchmark the Barclays Aggregate Bond Index as well as 50% S&P 500 Index/50% Barclays Aggregate Bond Index.
Fidelity Financial Advisor Solutions president Scott E. Couto said: "Our new fund can help advisors and their clients balance income potential and risk, because it has the flexibility to invest where the best income opportunities exist — regardless of asset class, sector, or geography.
"While the Fidelity Advisor Multi-Asset Income Fund is designed to be a multi-asset income option for investors seeking income and capital appreciation, it can also complement an existing portfolio by helping to enhance the yield of fixed-income allocations, or by reducing the volatility of equity allocations," added Couto.
