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Rating:Fidelity Offers Dividend Play Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, January 06, 2004

Fidelity Offers Dividend Play

by: Sean Hanna, Editor in Chief

Fidelity Investments is rolling out a new fund designed to take advantage of potentially increased demand for dividends by investors. The Fidelity Strategic Dividend & Income Fund opened to investors on Tuesday.

The fund will invest roughly half its assets in common stock and the remainder in preferred stocks, REITs and other real estate related investments and convertible securities, according to Fidelity officials. Each of the asset classes will be held in one of four sub-portfolios. The investment mix is designed to provide the fund with the potential for a higher expected yield combined with a lower expected risk profile in comparison to many other Fidelity growth and income mutual funds that focus on common stocks alone.

The Boston fund firm will offer shares both directly to investors on a no-load basis and through advisors in the form of five additional share classes -- Fidelity Advisor Strategic Dividend & Income Fund (Classes A, T, B, C, and Institutional).

"Advisors working with income-seeking clients will now have access to an actively managed asset-allocation equity fund comprised of specialized asset classes," said Marty Willis, executive vice president of Fidelity Investments Institutional Services Company. "By mixing these asset classes, the fund has the potential added benefit of reduced volatility while seeking income." 

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