Fidelity California Municipal Income
FCTFX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Boston, MA 02109 Boston MA United States of America 02210
- IPO Date
- Jul 3, 1984
- CIK
- 0000718891
- Website
- fundresearch.fidelity.com
- Similar Companies
- Business
- Fidelity California Municipal Income Fund (FCTFX) is an open-end mutual fund that seeks a high level of current income exempt from both federal and California personal income taxes. The fund normally invests at least 80% of its assets in investment-grade municipal securities issued by California state and local governments, transportation authorities, public institutions, and related entities; these include revenue bonds financing infrastructure, education, airports, universities, health facilities, and other public projects. It may invest more than 25% of assets in municipal securities funding similar projects, with a portfolio emphasizing mid-credit quality and extended interest-rate sensitivity, diversified across California issuers, and maintaining total net assets of approximately $1.76 billion. Launched in July 1984 and managed as part of Fidelity Investments' lineup, the fund is domiciled in the United States with share class inception in August 2002. Fidelity Investments, the fund's investment manager, maintains headquarters at 82 Devonshire Street, Boston, Massachusetts. The portfolio is overseen by a team including Cormac Cullen (since May 2016), Elizah McLaughlin (since September 2018), and Michael Maka (since March 2020), focusing on tax-exempt income generation for individual and institutional investors seeking California municipal bond exposure. The fund operates within the Muni California Long Morningstar category, offering monthly dividends and distributing capital gains in April and December, with a net expense ratio of 0.43% and no front-end or deferred loads. It targets California residents and taxable accounts prioritizing tax-advantaged fixed income, with holdings predominantly in U.S. municipal tax-exempt bonds (98.81% allocation) and minimal cash equivalents. No major partnerships, acquisitions, funding rounds, product launches, or strategic shifts have been reported for the fund in the last 1-2 years; it continues standard operations under Fidelity California Municipal Trust.