Fidelity Floating Rate High Income
FFRHX
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- Fidelity Floating Rate High Income Fund (FFRHX) is a mutual fund managed by Fidelity Investments that seeks a high level of current income through investments primarily in floating rate debt securities and loans. The fund offers exposure to senior floating rate loans issued by corporations; second lien loans; secured and unsecured floating rate debt; and other floating rate debt instruments, with a focus on below-investment-grade securities to maximize yield. It maintains a diversified portfolio across industries such as technology, healthcare, consumer services, and financial services, targeting institutional and retail investors seeking income in varying interest rate environments. Established under Fidelity Management & Research Company LLC, the fund operates from Fidelity's headquarters in Boston, Massachusetts, with global reach through investments in U.S. and international issuers. Fidelity Investments, founded in 1946, oversees the fund as part of its extensive lineup of fixed income products; no direct parent-subsidiary relationships apply beyond Fidelity's internal structure. In recent developments, the fund has navigated interest rate shifts with portfolio adjustments emphasizing shorter-duration floating rate assets amid Federal Reserve policy changes in 2024-2025. Fidelity announced enhancements to its institutional platform in late 2024, improving access to high income strategies like FFRHX for retirement plans and endowments; no major acquisitions or name changes occurred, but the firm expanded its sustainable lending overlay in floating rate offerings during 2025.