BOSTON — Fidelity Investments® today announced that Morningstar, Inc. has awarded its 2016 Fixed-Income Fund Manager of the Year in the United States to the portfolio managers of Fidelity Total Bond Fund (FTBFX), Ford O'Neil, Matt Conti, Mike Foggin and Jeff Moore.
O'Neil, Conti, Foggin and Moore also manage Fidelity Advisor Total Bond Fund1. Fidelity currently manages more than $925 billion2 in fixed income assets, making it one of the largest fixed income asset managers in the world.
According to Morningstar, its annual Fund Manager of the Year award recognizes portfolio managers who demonstrate excellent investment skill and the courage to differ from the consensus to benefit investors. To qualify for the award, managers' funds must have not only posted impressive returns for the year, but the managers also must have a record of delivering outstanding long-term risk-adjusted performance and of aligning with shareholders' interests. Nominated funds must be Morningstar Medalists — a fund that has garnered a Morningstar Analyst RatingTM of Gold, Silver, or Bronze. The Fund Manager of the Year award winners are chosen based on research and in-depth qualitative evaluation by Morningstar's Manager Research Group.
In recognizing O'Neil and team, Morningstar's Laura Lutton stated, "Given the fund's structural exposures to high yield and credit in the previous year, combined with excellent security selection in those allocations, 2016 provided a strong showcase of what Ford and the team do well. In the past, this fund's performance has been aided by strong security selection and sector allocations."
A team of experienced managers is behind the success of Fidelity Total Bond Fund, a $25 billion fund with a Morningstar Analyst RatingTM of Gold, which last year beat 96% of its Morningstar peers in the intermediate-term bond category. Past performance is no guarantee of future results. For the most recent fund performance, please visit Fidelity.com. In addition to 26-year Fidelity veteran and lead manager O'Neil, the fund benefits from the expertise of portfolio managers Conti, Foggin, and Moore. Together they have more than 90 years of investment management experience and are also backed by Fidelity's fixed-income group.
"Fidelity Total Bond Fund has over the years provided investors strong risk-adjusted returns with a one-stop access to a diverse group of fixed-income sectors" said O'Neil. "The broad mandate of Fidelity Total Bond Fund has been key to its ability to outperform in all types of markets and could be especially valuable as interest rates fluctuate in the months ahead."
Fidelity Total Bond Fund — Average Annual Total Returns3
"On behalf of Fidelity and the fund's shareholders, we are truly honored to receive this recognition from Morningstar," said Charlie Morrison, president of Fidelity's Asset Management organization. "Not only does this award recognize the team on Total Bond Fund for its incredible stewardship on the fund, but, just as importantly, it also recognizes the tremendous fixed income organization we have assembled, an organization that is positioned to help us meet the rapidly evolving fixed income needs of our retail and institutional clients."
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 $5.7 trillion, including managed assets of $2.1 trillion as of December 31, 2016, we focus on meeting the unique needs of a diverse set of customers: helping more than 25 million people invest their own life savings, nearly 20,000 businesses manage employee benefit programs, as well as providing more than 12,500 financial advisory firms with investment and technology solutions to invest their own clients’ money. Privately held for 70 years, Fidelity employs 45,000 associates who are focused on the long-term success of our customers. For more information about Fidelity Investments, visit https://www.fidelity.com/about.