Fidelity Income Fund - Fidelity Simplicity RMD Income Fund
FRNAX
NASDAQ- -
USD
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Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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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 - Income
- Address
- 245 Summer Street Boston MA United States of America 02210
- IPO Date
- Aug 31, 2007
- CIK
- 0000751199
- Similar Companies
- Business
- Fidelity Income Fund - Fidelity Simplicity RMD Income Fund (FRNAX) is an actively managed open-end mutual fund offered by Fidelity Investments that seeks total return through a combination of current income and capital growth until its designated horizon, tailored for investors approaching required minimum distribution (RMD) age who intend to withdraw assets systematically over time in line with IRS-mandated RMDs. The fund invests in a diversified portfolio of underlying Fidelity mutual funds according to a fixed asset allocation strategy emphasizing fixed-income and short-term funds suitable for its shortest time horizon within the Fidelity Simplicity RMD Funds series; this includes allocations to U.S. equities, non-U.S. equities, U.S. investment-grade bonds, long-term U.S. Treasury bonds, U.S. Treasury Inflation-Protected Securities, and reduced exposure to international bonds. It supports Fidelity's automated RMD withdrawal service without automatic liquidation, targeting retirees and pre-retirees in the U.S. market as part of Fidelity's broader retirement income solutions. Fidelity Investments, the fund's manager and distributor, founded Fidelity Management & Research in 1946 and is headquartered in Boston, Massachusetts, with global operations serving clients worldwide through asset management, brokerage, and retirement services. The Fidelity Simplicity RMD Income Fund operates primarily in the United States, with no notable subsidiaries or parent entities beyond Fidelity's corporate structure. In July 2020, the fund underwent a significant reorganization when the Fidelity Income Fund: Fidelity Simplicity RMD 2005 Fund merged into it in a tax-free transaction, transferring all assets and liabilities to enhance scale and operational efficiency. For the fiscal year ended July 31, 2024, the fund delivered a positive return of approximately 7.32%, driven by strong performance in underlying U.S. equities (such as Fidelity Series Opportunistic Insights Fund), non-U.S. equities, and select fixed-income holdings, amid a strategic overweight to equities based on expectations of global economic growth. No major partnerships, new product launches, or acquisitions specific to FRNAX have been announced in the last 1-2 years, reflecting stability within Fidelity's ongoing product line rationalization efforts.