Fidelity Income Fund - Fidelity Simplicity RMD Income Fund
FRNIX
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USD
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Capital Structure
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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.- 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 (FRNIX) is an actively managed target-date mutual fund designed for investors approaching required minimum distribution (RMD) age who seek total return through a combination of current income and capital growth to support systematic withdrawals aligned with IRS-mandated RMDs; the fund invests primarily in a diversified portfolio of underlying Fidelity mutual funds, including U.S. equity funds such as Fidelity Series Growth Company Fund, Series Large Cap Stock Fund, Series Opportunistic Insights Fund, and Series Value Discovery Fund; non-U.S. equity funds including Fidelity Series International Growth Fund, Series Overseas Fund, Series Emerging Markets Opportunities Fund, and Series International Small Cap Fund; fixed-income funds such as Fidelity Series Investment Grade Bond Fund, Series 0-5 Year TIPS Index Fund, Series Long-Term Treasury Bond Index Fund, Series High Income Fund, and Series Emerging Markets Debt Fund; short-term funds like Series Government Money Market Fund and Series Short-Term Credit Fund; and a small commodities allocation via Series Commodity Strategy Fund. As of July 31, 2024, the fund's portfolio allocation emphasizes fixed income at approximately 72%, with U.S. investment-grade bonds at 43%, short-term inflation-protected bonds at 20%, non-U.S. equities at 14%, U.S. equities at 9%, and short-term debt and other assets at 6%, reflecting its conservative profile as the ultimate destination fund within the Fidelity Simplicity RMD Funds series, into which higher-horizon RMD funds such as the 2010, 2015, 2020, 2025, and 2030 funds are expected to eventually merge. The fund, which commenced operations on August 30, 2007, is managed by Fidelity Management & Research Company LLC and operates from its headquarters at 245 Summer Street, Boston, Massachusetts, serving primarily U.S. retail and retirement investors through Fidelity's distribution platform with no specified international geographic operations beyond its global underlying fund exposures. For the fiscal year ended July 31, 2024, the fund delivered a total return of 7.32%, driven by strong contributions from underlying U.S. equity, non-U.S. equity, and investment-grade bond funds, though it trailed its composite index slightly due to active asset allocation decisions including an underweight in U.S. equities and overweight in long-term Treasurys; recent portfolio adjustments as of mid-2024 included increased allocations to certain Series funds like Fidelity Series Overseas Fund and Series Canada Fund, alongside maintained overweight positions in non-U.S. equities and long-term inflation-protected securities relative to composites, positioning for anticipated U.S. economic moderation and non-U.S. growth opportunities. No major mergers, acquisitions, funding rounds, or strategic alliances involving FRNIX were reported in the past 1-2 years, with the fund maintaining its core structure amid Fidelity's broader RMD suite enhancements, including the 2030 Fund's launch in December 2022.