Fidelity Global Credit Fund
FGBFX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Global
- Address
- 245 Summer Street Boston MA United States of America 02210
- IPO Date
- May 23, 2012
- CIK
- 0000215829
- Similar Companies
- Business
- Fidelity Global Credit Fund (FGBFX) is an open-end mutual fund managed by Fidelity Investments that seeks competitive risk-adjusted returns through a full market cycle by investing primarily in a diversified portfolio of global investment-grade fixed-income securities, including corporate bonds, sovereign bonds, supranational bonds, local authority bonds and agency bonds; the fund may allocate up to 20% of assets to non-investment-grade debt securities and employs derivatives such as futures, options, swaps and forward foreign currency exchange contracts for hedging and exposure management; it benchmarks performance against the Bloomberg Global Aggregate Credit Index (Hedged USD) and targets institutional and retail investors seeking exposure to global credit markets with USD hedging to mitigate currency risk. The fund, domiciled in the United States and launched on May 22, 2012, operates primarily through Fidelity School Street Trust with headquarters in Smithfield, Rhode Island; it maintains significant allocations to U.S. and non-U.S. corporate bonds (approximately 64% as of December 31, 2024), U.S. government securities, European property sector debt (such as Aroundtown SA and Grand City Properties), banking sector bonds and cash equivalents; geographic exposure spans the United States, Germany, Switzerland, France, Ireland and other developed markets, with top holdings including Fidelity Cash Central Fund, Aroundtown SA, U.S. Treasury bonds and limited emerging market involvement. Co-managed by Michael Foggin (since May 2014), Andrew Lewis (since June 2017) and Lisa Easterbrook (since October 2021), the fund delivered an 8.42% return for its Retail Class shares in the fiscal year ended December 31, 2024, outperforming its benchmark's 3.52% gain through overweight positions in European property and banking sectors amid global monetary easing, though longer duration slightly detracted; net assets stood at approximately $51.60 million as of year-end 2024, with a gross expense ratio of 0.50%, effective duration of 6.3 years and net exposure heavily weighted toward investment-grade credits (AAA to BBB ratings comprising over 60%). In a significant recent development, Fidelity announced the closure and liquidation of the fund, including its Fidelity Advisor share classes; after close of business on August 25, 2025, the fund closed to new investments except dividend reinvestments, with planned liquidation on or about October 29, 2025, following Board of Trustees approval due to assets under management declining to approximately $59 million as of July 31, 2025; shareholders may redeem or exchange shares prior to liquidation, which constitutes a taxable event, with proceeds distributed to core accounts or intermediaries.