Fidelity Advisor New Markets Income Fund - Class M (FGWMX)

Fidelity Advisor New Markets Income Fund Class M is a mutual fund specializing in emerging-market fixed income securities. The fund’s primary objective is to provide high current income by investing predominantly in sovereign bonds issued by emerging-market countries, with most holdings denominated in U.S. dollars. It typically allocates at least 80% of its assets to issuers in emerging economies, including both sovereign and select corporate debt. By focusing on these markets, the fund offers exposure to faster-growing global regions and higher potential yields compared to developed-market bonds, albeit at a higher risk level. The fund employs a rigorous investment process grounded in country-specific research and macroeconomic analysis, enabling its management team to identify undervalued opportunities with positive catalysts. Its diversified approach spans multiple countries, regions, and industries, with a significant portion of the portfolio concentrated in sovereign and quasi-sovereign debt. The fund’s role in the market is to serve investors seeking geographic and income diversification through emerging debt, leveraging Fidelity’s experienced team and research depth in navigating the complexities of developing economies.