Fidelity Income Fund - Fidelity Simplicity RMD Income Fund
FRNTX
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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.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 (FRNTX) is an actively managed mutual fund that seeks total return through a combination of current income and capital growth to support required minimum distribution (RMD) withdrawals for investors in retirement. 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 such as Fidelity Series International Growth Fund, Series Overseas Fund, Series International Value Fund, Series Emerging Markets Opportunities Fund, and Series Canada Fund; fixed-income funds such as Fidelity Series Investment Grade Bond Fund, Series Long-Term Treasury Bond Index Fund, Series 0-5 Year TIPS Index Fund, Series 5+ Year TIPS Index Fund, Series High Income Fund, and Series International Developed Markets Bond Index Fund; commodity strategies via Fidelity Series Commodity Strategy Fund; and short-term debt funds including Fidelity Series Government Money Market Fund and Series Short-Term Credit Fund. As of July 31, 2024, the fund's portfolio allocation emphasizes fixed income at approximately 72%, with U.S. investment-grade bonds comprising 43%, short-term inflation-protected bonds at 20%, non-U.S. equities at 14%, U.S. equities at 9%, and smaller exposures to commodities, high-yield debt, emerging-markets debt, and real estate debt. It operates within the target-date retirement income segment, targeting retirees or those nearing RMD age (around 70 and older), with a conservative asset allocation designed for systematic withdrawals rather than automatic liquidation, and may pair with Fidelity's automated RMD withdrawal service. The fund, part of Fidelity's Simplicity RMD Funds series, was incepted on August 30, 2007, and is headquartered at 245 Summer Street, Boston, Massachusetts, under the management of Fidelity Management & Research Company LLC. It serves U.S.-based investors through various share classes, with FRNTX representing a specific retail or advisor class; assets under management stood at approximately $29.1 million as of July 31, 2024. Geographically, the fund provides global exposure via its underlying funds, spanning U.S., developed international, emerging markets, and inflation-hedging assets, without direct international operations beyond investment allocations. In recent developments, the Fidelity Simplicity RMD Funds, including the Income Fund, delivered positive returns for the fiscal year ending July 31, 2024, ranging from 7.32% for the Income Fund, with most outperforming their composite indexes due to strong contributions from underlying U.S. and non-U.S. equity funds like Fidelity Series Opportunistic Insights Fund and Series International Growth Fund. Portfolio managers adjusted active positioning to overweight non-U.S. equities and long-term U.S. Treasuries/TIPS versus composites, while underweighting U.S. equities amid valuation concerns and anticipating U.S. dollar weakening; this follows broader series mergers, such as Fidelity Simplicity RMD 2005 Fund into the Income Fund in July 2020 and RMD 2025 Fund restrictions or mergers in 2024. No major acquisitions, partnerships, or new product launches specific to FRNTX were reported in the last 1-2 years, though Fidelity Investments completed its first acquisition in seven years with Shoobx in 2025 to enhance equity management services, indirectly supporting retirement-focused offerings.