Fidelity Income Fund - Fidelity Simplicity RMD 2020 Fund
FARWX
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USD
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Capital Structure
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- 245 Summer Street Boston MA United States of America 02210
- IPO Date
- Dec 31, 2007
- CIK
- 0000751199
- Similar Companies
- Business
- Fidelity Income Fund - Fidelity Simplicity RMD 2020 Fund (FARWX) is a target-date-style mutual fund within Fidelity Investments' Simplicity RMD series, designed for investors approaching required minimum distribution (RMD) age who intend to withdraw assets gradually in accordance with IRS-mandated RMDs. The fund, which commenced operations on December 31, 2007, invests primarily in a diversified portfolio of underlying Fidelity mutual funds, including U.S. equity funds such as Fidelity Series Growth Company Fund, Fidelity Series Large Cap Stock Fund, Fidelity Series Opportunistic Insights Fund, and Fidelity Series Blue Chip Growth Fund; international equity funds such as Fidelity Series International Growth Fund, Fidelity Series Overseas Fund, Fidelity Series Emerging Markets Opportunities Fund, and Fidelity Series Canada Fund; bond funds encompassing Fidelity Series Investment Grade Bond Fund, Fidelity Series Long-Term Treasury Bond Index Fund, Fidelity Series Inflation-Protected Bond Index Funds, Fidelity Series High Income Fund, and Fidelity Series Emerging Markets Debt Fund; commodity strategies via Fidelity Series Commodity Strategy Fund; and short-term funds. It employs an active asset allocation strategy that gradually shifts toward a more conservative mix over time, with an emphasis on fixed-income and short-term investments as the horizon date approaches, ultimately positioning for potential merger into the Simplicity RMD Income Fund; as of July 31, 2024, its portfolio allocation included approximately 25% U.S. equities, 24% non-U.S. equities, 50% bonds, and allocations to commodities and short-term debt. Fidelity Investments, the fund's manager and parent entity founded in 1946 and headquartered in Boston, Massachusetts, operates globally with a focus on retirement and target-date solutions for individual and institutional investors. In the fiscal year ended July 31, 2024, the fund delivered a total return of 10.41%, outperforming its Fidelity Simplicity RMD 2020 Composite Index benchmark of 10.04% and ranking in the 33rd percentile of its Morningstar Target-Date 2020 category, driven by strong contributions from underlying U.S. and non-U.S. equity funds like Fidelity Series Opportunistic Insights Fund and Fidelity Series International Growth Fund, as well as Fidelity Series Investment Grade Bond Fund. Recent portfolio adjustments as of mid-2024 reflect active management decisions, including an underweight in U.S. equities relative to the benchmark due to valuation concerns, an overweight in non-U.S. equities across developed and emerging markets for perceived undervaluation and growth potential, neutral fixed-income weighting with overweights in long-term U.S. Treasurys and Treasury Inflation-Protected Securities, and an out-of-index commodities allocation. No major mergers, acquisitions, partnerships, or structural reorganizations specific to FARWX were reported in 2024 or 2025, though the broader Fidelity Simplicity RMD series continues to emphasize alignment with evolving retirement withdrawal needs amid a global economic expansion and moderating inflation environment.