Fidelity Makes Changes to Certain Bond and Money Market Funds

Effective September 1, the minimum initial investment requirement for the U.S Bond Index Fund will be reduced to $10,000 from $100,000. In addition, the fund's expense cap of 0.32% will be fixed at that level contractually, which means expenses cannot be raised without a vote of the fund's board of trustees.

Fidelity also said that, effective today, it is rebranding a number of its "Spartan" money market and bond funds with the "Fidelity" name, and standardizing the minimum investments for the money market portfolios at $25,000

*The Minimum Initial Investment on the following five funds is lowered to $25,000 from $100,000:

Former Name New Name
Fidelity Spartan Municipal Money Fund (FIMXX) Fidelity AMT Tax-Free Money Fund
Fidelity Spartan California Municipal Money Market Fund (FSPXX) Fidelity California AMT Tax-Free Money Market Fund
Fidelity Spartan Massachusetts Municipal Money Market Fund (FMSXX) Fidelity Massachusetts AMT Tax-Free Money Market Fund
Fidelity Spartan New Jersey Municipal Money Market Fund (FSJXX) Fidelity New Jersey AMT Tax-Free Money Market Fund
Fidelity Spartan New York Municipal Money Market Fund (FSNXX) Fidelity New York AMT Tax-Free Money Market Fund

*The Minimum Initial Investment on the following three funds is raised to $25,000 from $20,000:

Fidelity Spartan Money Market Fund (SPRXX) Fidelity Money Market Fund
Fidelity Spartan U.S. Treasury Money Market Fund (FDLXX) Fidelity U.S. Treasury Money Market Fund
Fidelity Spartan U.S. Government Money Market Fund (SPAXX) Fidelity Government Money Market Fund

*The Minimum Initial Investment on the following sixteen funds remains unchanged at $10,000, except Fidelity Tax-Free Bond Fund, which is at $25,000.

Fidelity Spartan Arizona Municipal Income Fund (FSAZX) Fidelity Arizona Municipal Income Fund
Fidelity Spartan California Municipal Income Fund (FCTFX) Fidelity California Municipal Income Fund
Fidelity Spartan Connecticut Municipal Income Fund (FICNX) Fidelity Connecticut Municipal Income Fund
Fidelity Spartan Florida Municipal Income Fund (FFLIX) Fidelity Florida Municipal Income Fund
Fidelity Spartan Maryland Municipal Income Fund (SMDMX) Fidelity Maryland Municipal Income Fund
Fidelity Spartan Massachusetts Municipal Income Fund (FDMMX) Fidelity Massachusetts Municipal Income Fund
Fidelity Spartan Michigan Municipal Income Fund (FMHTX) Fidelity Michigan Municipal Income Fund
Fidelity Spartan Minnesota Municipal Income Fund (FIMIX) Fidelity Minnesota Municipal Income Fund
Fidelity Spartan New Jersey Municipal Income Fund (FNJHX) Fidelity New Jersey Municipal Income Fund
Fidelity Spartan New York Municipal Income Fund (FTFMX) Fidelity New York Municipal Income Fund
Fidelity Spartan Ohio Municipal Income Fund (FOHFX) Fidelity Ohio Municipal Income Fund
Fidelity Spartan Pennsylvania Municipal Income Fund (FPXTX) Fidelity Pennsylvania Municipal Income Fund
Fidelity Spartan Short-Intermediate Municipal Income Fund (FSTFX) Fidelity Short-Intermediate Municipal Income Fund
Fidelity Spartan Intermediate Municipal Income Fund (FLTMX) Fidelity Intermediate Municipal Income Fund
Fidelity Spartan Municipal Income Fund (FHIGX) Fidelity Municipal Income Fund
Fidelity Spartan Tax-Free Bond Fund (FTABX) Fidelity Tax-Free Bond Fund
Contact Bob Keane with questions or comments at: bkeane@investmentadvisor.com.
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