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| Fidelity offers a including bond and money market funds, individual bonds, and FDIC-insured CDs. |
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| Fidelity has enormous depth and breadth in bond fund investing, with more than $500 billion (as of 12/31/2007) in total fixed income assets under management. |
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| Fidelity bond and money market funds are managed with shareholder expectations in mind. Fixed income investors generally want a higher degree of consistency and predictability in returns than do stock investors. Fidelity's fixed income fund portfolio managers use an active management approach emphasizing strategies that include issuer credit analysis, security valuation and trading execution. Our bond and money market fund managers place less weight on forecasting interest rate movements, since such an approach to portfolio management often leads to higher volatility without the benefit of higher, more consistent returns. |
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| Fidelity's bond fund investment strategies include: |
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– While we recognize that income is an important consideration for bond investors, we carefully weigh each investment's income potential with the opportunity for long-term price appreciation. We believe that managing for total return provides our shareholders with the best opportunities for consistent, competitive performance over time. |
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– Our bond and money market funds draw upon the resources of more than 400 (as of 12/31/2007) fixed income and equity research analysts and associates worldwide who provide exceptional research, thoroughly evaluating each issuer before investment decisions are made. |
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– Fidelity's fixed income fund management approach leverages each specialist's expertise and unique perspective. Each fund's portfolio manager draws upon the resources of dedicated quantitative and credit analysts and traders. The diagram below demonstrates how our team communicates. Each function is critical in the investment process. |
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| To help you reach your objectives, Fidelity Capital Markets offers a full spectrum of fixed income individual securities, from CDs to corporate and municipal bonds. |
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| Fidelity searches the fixed income marketplace to deliver you a wide selection of products and choice of fixed income inventory. In addition to securities owned by Fidelity Capital Markets, Fidelity sources quality offerings from national and regional broker dealers, as well as bringing you the best inventory from Alternative Trading Systems (ATS). Fidelity's inventory is screened through Fidelity Capital Markets trading expertise, research and credit quality checks to provide the best offerings available by product. |
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| Established in 1989, Fidelity Capital Markets is a Boston-based principal dealer in fixed income securities with a growing national presence, including regional branches in New York, Chicago, Los Angeles, and San Francisco. |
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| Fidelity's individual bond customers benefit from the experience of more than 30 seasoned traders and market liaisons. Fidelity's fixed income traders have, on average, over ten years of buy-side/sell-side expertise. Supported by a strong capital base, the team takes a proactive role in finding the best price for securities. |
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| In addition to Fidelity's bond fund offerings, customers have access to more than 1,300 bond funds from America's well-known fund companies through the Fidelity FundsNetwork® program. |
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