Fidelity launches multi-asset income fund to meet ‘growing demand’

By Wendy Van Sickle

Columbus, Ohio, Sept. 16 – Fidelity Investments launched Fidelity Advisor Multi-Asset Income Fund (classes A, C, T and I), its first multi-asset income fund, designed to meet the growing demand among American investors for income, according to a Wednesday press release.

The fund’s strategy seeks to provide a combination of income and capital appreciation. A flexible mandate allows its managers to invest in income-producing securities, including investment-grade bonds, non-investment-grade bonds and dividend-paying equities.

Its benchmark index is the Barclays Aggregate Bond Index, and its secondary composite benchmark is 50% S&P 500 Index and 50% Barclays Aggregate Bond Index.

“Our new fund can help advisers 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,” Scott E. Couto, president of Fidelity Financial Advisor Solutions, said in the release.

The fund’s lead manager is Adam Kramer; co-managers are Ford O’Neil and Jim Morrow.

In the release Kramer outlined four primary goals in managing the fund: 1) provide a high level of current income; 2) provide capital preservation in declining markets; 3) provide capital appreciation in rising markets; and 4) add alpha through both asset class and security selection.

The fund is available only through financial advisers.

Fidelity is a Boston-based asset management firm.

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