Fidelity Income Fund - Fidelity Simplicity RMD 2010 Fund (FIIRX) is a target maturity mutual fund managed by Fidelity Investments that seeks total return until approximately 2010 through a combination of current income and capital growth, supporting required minimum distribution (RMD) needs for retirees via systematic withdrawals. The fund invests primarily in a diversified mix of underlying Fidelity mutual funds, including domestic and international equity funds such as Fidelity Series Equity Market Index Fund and Fidelity Series Blue Chip Growth Fund; fixed income strategies encompassing Fidelity Series Investment Grade Bond Fund, Fidelity Series High Income Fund, Fidelity Series Floating Rate High Income Fund, international bonds via Fidelity Series International Developed Markets Bond Index Fund, emerging markets debt through Fidelity Series Emerging Markets Debt Fund, and real estate income funds; as well as short-term debt and money market instruments like Fidelity Series Government Money Market Fund for liquidity. It gradually shifts toward fixed income and conservative assets over time to reduce volatility and align with RMD horizons ending around December 31, 2032 under Fidelity's Smart Payment Program.
Headquartered at 245 Summer Street in Boston, Massachusetts, Fidelity Investments founded the fund as part of its broader Simplicity RMD series, with the parent company established in 1946 and operating globally across investment management, retirement services, brokerage, and wealth management segments targeting individual investors, retirement plans, and institutions in the United States and select international markets. Geographically focused on U.S. investors with underlying funds providing exposure to domestic equities and bonds, supplemented by international and emerging market allocations comprising up to 4% international bonds and 0.69% emerging markets debt as of recent portfolio data.
In recent developments, the fund has maintained stable portfolio allocations amid market volatility, with fixed income holdings such as Fidelity Series Investment Grade Bond Fund outperforming benchmarks like the Bloomberg U.S. Aggregate Bond Index in prior periods; Fidelity Investments as a whole reported discretionary assets reaching $6.4 trillion in Q2 2025, up 17% year-over-year, reflecting broader firm expansion in retirement products without specific mergers, acquisitions, or strategy shifts announced for FIIRX in 2024-2025. The fund continues to support its RMD objective through December 31, 2032, with no recent name changes, reorganizations, or new product launches specific to this share class.