FMET - Fidelity New Markets Income Fund Q2 2024 Review
2024-07-31 09:40:00 ET
Summary
- Fidelity Contrafund is a large-cap growth biased equity strategy focused on companies with durable multiyear earnings growth potential.
- Fidelity New Markets Income Fund is an emerging markets bond strategy that offers dedicated exposure to sovereign debt of EM nations around the world.
- Emerging markets debt gained 0.30% in the second quarter, according to the J.P. Morgan Emerging Markets Bond Index Global Diversified Index.
- For the quarter, the fund's Retail Class shares gained 0.98%, outpacing the 0.30% advance of the benchmark, the J.P. Morgan Emerging Markets Bond Index Global Diversified Index.
Investment Approach
- Fidelity® New Markets Income Fund is an emerging markets ((EM)) bond strategy that offers dedicated exposure to sovereign debt of EM nations around the world.
- The fund focuses primarily on U.S.-dollar-denominated sovereign debt, and to a lesser extent on EM corporate bonds.
- Our investment approach in managing the fund begins with country research, rooted in macroeconomic analysis, to help identify undervalued sovereign bonds with positive catalysts.
- We incorporate global macro perspectives to supplement our country-level research. Our extensive experience investing in emerging markets and deep research capabilities support us in our efforts to take advantage of long-term trends and short-term opportunities.