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Bonds Buoy Fidelity Asset Manager: Income

Fixed-income component saves the day for Fidelity Asset Manager: Income in late 2000, early 2001.

Mentioned:

Fidelity Asset Manager: Income (FASIX) is showing its down-market mettle.

With bonds and cash representing roughly 80% of this portfolio, it's no surprise that the fund has weathered the recent market sell-off rather well. Indeed, over the past few months, most bond funds have posted gains, as a slowing economy and an accommodative Federal Reserve have pushed down interest rates. For the year to date through March 9, 2001, the fund had eked out a gain of 0.48%, while its average rival had lost 2%. Similarly, when the market got slammed between September 1 and November 30, 2000, this fund lost just 2.5%. The typical domestic-hybrid offering dropped 6%.

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Scott Cooley does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.

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