Fidelity Advisor New Markets Income Fund - Class C (FGYMX)

Fidelity Advisor New Markets Income Fund Class C is a taxable bond mutual fund designed to provide exposure to the debt markets of emerging economies. Its primary function is to generate income by investing mainly in bonds issued by emerging-market nations and corporations, with the majority of these bonds denominated in U.S. dollars. The fund predominantly targets sovereign debt—bonds issued directly by the governments of developing countries—while maintaining diversification across various countries and industries to help manage risk and capitalize on global growth trends. Managed by Fidelity Investments since its launch in 2018, the fund leverages insights from a dedicated team of emerging-market professionals, who conduct in-depth research to navigate the unique challenges and opportunities within developing economies. By focusing on regions experiencing rapid economic expansion, the fund plays a significant role in the market for investors seeking higher yields and diversification beyond developed-market fixed income, albeit with higher associated risks due to the nature of emerging-market debt.