Fidelity VIP Floating Rate High Income

  • Trading Symbol: FFLCC
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Morningstar® Snapshot*

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*Data provided by Morningstar. Please click on the indicator above to learn more about comparison groups and methodology.

Performance

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AS OF 11/30/2014
Life
(Daily)*
1 Yr 3 Yr 5 Yr Life
(Monthly)
FFLCC -- -- -- -- +0.66%
*AS OF 12/19/2014; Value is cumulative
SUBACCOUNT INCEPTION 4/30/2014

Hypothetical Growth of $10,000

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AS OF 11/30/2014; MORNINGSTAR CATEGORY: BANK LOAN
Shows growth of hypothetical $10,000 investment in Fidelity VIP Floating Rate High Income fund over the selected time period

The chart illustrates the performance of a hypothetical $10,000 investment made in the fund ten years ago or on commencement of operations (whichever is later). Figures include reinvestment of capital gains and dividends, and reflect the effects of the annual annuity charge and the underlying fund's expenses. Figures do not reflect the effects of any applicable redemption fees, maintenance charges, or surrender fees, which would lower these figures. This chart is not intended to imply any future performance of the fund.

The performance data featured represents past performance, which is no guarantee of future results. Investment returns and the principal value of a variable annuity will fluctuate; therefore, you may have a gain or loss when money is withdrawn or received. Fund performance fluctuates and currently may be significantly higher or lower than stated.

Fund Manager(s)

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Eric Mollenhauer since 4/9/2014 Kevin Nielsen since 4/9/2014

Fund Overview

Objective

Seeks a high level of current income.

Strategy

Normally investing at least 80% of assets in floating rate loans, which are often lower-quality debt securities, and other floating rate securities. Investing in companies in troubled or uncertain financial condition. Investing in money market and investment-grade debt securities, and repurchase agreements. Investing in domestic and foreign issuers. Using fundamental analysis of each issuer's financial condition and industry position and market and economic conditions to select investments.

Risk

Lower-quality bonds can be more volatile and have greater risk of default than higher-quality bonds. Floating rate loans may not be fully collateralized and therefore may decline significantly in value. Fixed income investments entail interest rate risk (as interest rates rise bond prices usually fall), the risk of issuer default, issuer credit risk and inflation risk. Foreign securities are subject to interest rate, currency exchange rate, economic, and political risks.

Details

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Morningstar Category
Bank Loan
Subaccount Inception
4/30/2014
Unit Value
$9.90
12/19/2014
Turnover Rate
2%
6/30/2014
Net Assets ($M)
$35.02
11/30/2014
12 Month Low-High
$9.94 - $10.09
11/30/2014

Fixed Income
Characteristics

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30-Day Yield
3.66%
11/30/2014

Top 10 Holdings

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AS OF 9/30/2014
Top 10 Holdings
DELL TERM B 04/29/20
SERVICEMASTER TERM B 07/01/21
HEINZ TERM B-2 6/7/2020
DAVITA HEALTHCR TERM B 6/24/21
TRANSUNION TERM B 04/09/21
FIRST DATA CORP TRM B NEW 3/18
BERRY PLASTICS TM E INCR 1/21
LAUREATE EDU TERM B 06/16/18
PERFORMANCE FD TM 2LN 11/14/19
LANDMK USD/CAD TM 1LN AO 10/19
% of Total Portfolio 13.43%
Total # of holdings: 188 as of 9/30/2014

Quarter-End Average Annual Total Returns

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AS OF 9/30/2014; *SUBACCOUNT INCEPTION 4/30/2014 Glossary definition opens in new window.

EXPENSE RATIO (GROSS):
0.90% AS OF 4/9/2014
1 Yr 3 Yr 5 Yr 10 Yr Life*
Fidelity VIP Floating Rate High Income -- -- -- -- 0.10%
S&P/LSTA Lev Perf Loan 3.90% 6.73% 6.47% 5.21% --
Bank Loan 0.92% 3.07% 3.73% 2.48% --