Fidelity
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- Fidelity Funds Under Investigation
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- Fidelity Ultra-Short Bond Fund, symbol: FUSFX
Overview
Ultrashort Bond Funds: Fidelity Feels Ripple Effects
The dismal state of Ultrashort bond funds has wreaked havoc on investors and created massive financial losses. Fidelity Ultra-Short Bond Fund, symbol: FUSFX is the subject of investigation, as well as lawsuits from investors who say the funds were marketed to them as safe investments that would provide “higher potential returns than money market funds, with only marginally higher risk.” The fund has plummeted in value under the weight of securities backed by subprime mortgages.
News Commentary
Ultrashort Bond Funds: Ripple Effects of Subprime Take a Toll
A number of ultrashort bond funds have crashed and burned in recent months, reeling from the effects of a familiar culprit: lending woes in the subprime mortgage market. The first signs of trouble began to surface last year, when funds with ties to the performance of the housing market began to plummet in value.
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