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Rating:Strategic Advisors Files for Five New Funds Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, May 08, 2003

Strategic Advisors Files for Five New Funds

by: Ki Kim

Strategic Advisors, an affiliate of Fidelity Management & Research, registered five new mutual funds with the SEC yesterday in a bid to strengthen its line of advisor-sold fund products. The proposed funds are to be offered some time in July, confirmed a Fidelity spokesperson.

Fidelity Advisor Freedom Income Fund, Fidelity Advisor Freedom 2010 Fund, Fidelity Advisor Freedom 2020 Fund, Fidelity Advisor Freedom 2030 Fund, and Fidelity Advisor Freedom 2040 Fund are the proposed funds.

The Freedom Income Fund will seek high total return with a secondary objective of principal preservation, according to Fidelity. The other funds also will seek high total return and invest in a mix of Fidelity equity, fixed-income, and money market-type funds as well.

The overall allocation strategy, which grows more convervative over time, calls for 20 percent of assets in domestic equity, 40 percent in investment-grade bonds and 40 percent in money market/short-term funds some 5-10 years after the funds reach their target dates, according to published reports.

As for the fee schedule, the new funds are to fall in line with Fidelity's other advisor domestic equity funds.

The Class A and T shares will carry a 5.75 percent and 3.5 percent front end load, respectively; while the class B and C shares will have a 5.0 percent and 1.0 percent deferred sales fee, respectively, according to the spokesperson. The Institutional share class will carry no load. 

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