BOSTON--(BUSINESS WIRE)--Fidelity Investments, one of the largest and most diversified global financial services firms with more than $7.7 trillion in total client assets and more than $2.8 trillion in managed assets, today announced the launch of Fidelity International Bond Index Fund (FBIIX). With this launch, investors have access to yet another competitively priced Fidelity index fund.
Fidelity International Bond Index Fund’s total net expense ratio is 0.06%. As is the case with all Fidelity Index Funds, Fidelity International Bond Index Fund has total net expenses lower than its comparable Vanguard fund. Fidelity International Bond Index Fund is available, with no investment minimum, to individual investors, as well as through third-party financial advisors and workplace retirement plans. Fidelity is one of the largest index mutual fund providers in the industry, with $530 billion in index mutual fund assets as of August 31, 2019.
“While historically known for our active management expertise, Fidelity has arguably built one of the best index fund franchises in the industry, backed by exceptionally low costs and world-class customer service,” said Colby Penzone, head of Investment Product. “Whether it’s index funds, actively managed funds or separately managed accounts, we’re focused on providing individual investors, workplace retirement plan sponsors and participants, and financial advisors with extensive choice and exceptional value, elements that we believe are unmatched in the industry.”
About Fidelity International Bond Index Fund
Fidelity International Bond Index Fund seeks to provide a high level of current income. The fund will normally invest at least 80% of its assets in securities included in the Bloomberg Barclays Global Aggregate ex-USD Float Adjusted RIC Diversified Index (USD Hedged),i which is a multicurrency benchmark that includes fixed-rate treasury, government-related, corporate and securitized bonds from developed and emerging markets issuers while excluding USD denominated debt. The fund’s foreign currency exposures will be hedged by utilizing forward foreign currency exchange contracts.
About Fidelity Investments
Fidelity’s mission is to inspire better futures and deliver better outcomes for the customers and businesses we serve. With assets under administration of $7.7 trillion, including managed assets of $2.8 trillion as of August 31, 2019, we focus on meeting the unique needs of a diverse set of customers: helping more than 30 million people invest their own life savings, 22,000 businesses manage employee benefit programs, as well as providing more than 13,500 financial advisory firms with investment and technology solutions to invest their own clients’ money. Privately held for more than 70 years, Fidelity employs more than 40,000 associates who are focused on the long-term success of our customers. For more information about Fidelity Investments, visit https://www.fidelity.com/about.
