FSMD - Fidelity Total Bond Fund Q2 2024 Review
2024-07-29 22:35:00 ET
Summary
- Fidelity Contrafund is a large-cap growth biased equity strategy focused on companies with durable multiyear earnings growth potential.
- Fidelity Total Bond Fund is a diversified fixed-income strategy seeking competitive risk-adjusted performance commensurate with investor expectations of a core bond fund.
- The fund invests at least 80% of its assets in investment-grade bonds and up to 20% in non-investment-grade debt.
- Current market projections signal an expectation of one or possibly two rate cuts from the U.S. Federal Reserve in 2024, with the first most likely taking place in September.
Investment Approach
- Fidelity® Total Bond Fund is a diversified fixed-income strategy seeking competitive risk-adjusted performance commensurate with investor expectations of a core bond fund.
- The fund invests at least 80% of its assets in investment-grade bonds and up to 20% in non-investment-grade debt.
- The fund's primary benchmark, the Bloomberg U.S. Aggregate Bond Index, is the basis for this review. The fund also has a secondary benchmark, the Bloomberg U.S. Universal Bond Index, which is a broader measure of bond performance.
- Utilizing a team-based investment process, the fund relies on experienced portfolio managers, research analysts and traders. We concentrate on areas where we believe we can repeatedly add value, including asset allocation, sector and security selection, yield-curve positioning and opportunistic trading.
- Robust governance and risk management support the identification of both opportunities and risks.