Fidelity Announces a New Bond Fund

Today Fidelity announced the launch of a new bond fund. The Fidelity® Conservative Income Bond Fund will primarily invest in a combination of money market and high quality, investment‐grade debt securities with short durations. The new fund will be managed by James K. “Kim” Miller, a 20‐year Fidelity veteran with significant experience in managing funds with a primary focus on capital preservation. Fidelity reports that demand for this type of fund is spurred on by volatility in the equity and fixed-income markets and the aging of the U.S. investor. This fund should "appeal to relatively conservative, income-oriented investors with a time frame of at least six months to one year who are looking for exposure to high quality debt securities with short durations and are willing to accept some fluctuation in their fund’s share price.”