It isn't often that mutual fund firms launch remarkable, truly unique new products. Certainly, exchange-traded, lifecycle, 130/30 and emerging-market funds have been among the most significant and popular offerings in recent years.

Earlier this month, Fidelity Investments may have invented yet another new iteration of a mutual fund with its innovative suite of target-date retirement income funds that offer a simplified, one-stop solution many retirees and financial advisers might readily embrace.

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