Manchester United confirmed on Sunday night that the wing-back has signed permanently with Benfica after joining on-loan in January.
Fernandez, 21, said: I am very happy for the trust they have placed in me.
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"Since I arrived, I wanted to continue wearing this shirt and I want to next year be fighting for all the titles possible, with the support of the fans. Let's go Benfica!"
Fernandez has signed a deal to 2029 with a buyout clause of 50m.