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Products May 18, 2011
Fidelity Launches Global High Income Fund
Fidelity Investments is rolling out its first fund in the global high-yield category, the Fidelity Global High Income Fund.
Reported by PLANADVISER staff
The fund enables investors seeking diverse sources of income to gain exposure to a rapidly growing area of the global fixed‐income markets, according to the announcement.
Fidelity Global High Income Fund allocates assets across four distinct markets: U.S. high yield, European high yield, Asian high yield and emerging markets debt. The fund will be lead managed by 15‐year Fidelity veteran John H. Carlson. Carlson will work closely with regional portfolio managers who are located in markets around the world and supported by Fidelity’s extensive global fixed‐income research team.
Fidelity Global High Income Fund compares its performance to the Bank of America Merrill Lynch Global High Yield & Emerging Markets Plus Index. The fund’s performance is also compared to a composite benchmark comprised of the subportfolio benchmarks and neutral weightings shown in the table above.
Fidelity Global High Income Fund’s retail class (FGHNX) is sold without a load and Fidelity has voluntarily capped expenses at 1.00% for the retail share class. The Adviser share classes have traditional Fidelity Adviser high income fund pricing. Fidelity has also agreed to the following voluntary expense cap for the Adviser share classes: Class A (FGHAX): 1.25%; Class C (FGHCX): 2.00%; Class T (FGHTX): 1.25%; and Institutional Class (FGHIX): 1.00%. There is a 1.00% short‐term redemption fee for shares held less than 90 days.