Fidelity Investments on Wednesday announced the launch of four Fidelity Defined Maturity Funds, a series of four actively managed municipal income funds. The funds seek to bridge the gap between individual bonds and bond funds and, therefore, fill a gap in municipal bond investing, Fidelity said.
The funds also have defined end dates and will invest primarily in investment-grade municipal bonds, seeking a high level of current income as well as the preservation of capital.
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