Fidelity Minnesota Municipal Income Fund
FIMIX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Abigail Johnson
- Full Time Employees
- 74,000
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Boston, MA 02109 Boston MA United States of America 02210
- IPO Date
- Nov 21, 1985
- CIK
- 0000035373
- Website
- fidelity.com
- Similar Companies
- Business
- Fidelity Minnesota Municipal Income Fund (FIMIX) is a mutual fund that seeks a high level of current income exempt from federal income tax and Minnesota personal income tax. The fund normally invests at least 80% of assets in investment-grade municipal securities whose interest is exempt from federal and Minnesota personal income taxes; it allocates across different market sectors and maturities while managing interest rate risk to align with an index representing Fidelity Management & Research Company's view of the competitive universe; it is non-diversified and focuses primarily on Minnesota municipal debt, including general obligation and revenue-backed bonds. The fund's portfolio holds approximately 342 securities, with 97.60% in U.S. bonds and 2.40% in non-U.S. bonds, predominantly in the municipal tax-exempt sector; it targets Minnesota residents seeking tax-advantaged income and maintains a net expense ratio of 0.47%, a portfolio turnover rate of 26%, and total net assets of around $542 million. Launched on November 21, 1985, the fund is managed by Fidelity Management & Research Company LLC (FMR), a subsidiary of FMR LLC, with headquarters in Boston, Massachusetts. Current co-portfolio managers include Cormac Cullen (since May 2016), Elizah McLaughlin (since September 2018), and Michael Maka (since March 2020). The fund operates within the Muni Minnesota category, emphasizing medium credit quality and moderate interest-rate sensitivity, with an effective duration of 5.70 years and a 30-day SEC yield around 2.66%. Recent developments include semiannual performance for the period ending June 30, 2025, where the fund gained 0.08% net of fees, underperforming the Bloomberg Minnesota Municipal Bond Index's 0.26%; ongoing portfolio management focuses on tax-exempt municipal bonds amid market conditions noted in first-half 2025 reports. No major acquisitions, funding rounds, partnerships, or structural reorganizations have been announced for the fund in the last 1-2 years; Fidelity continues routine reviews of its product lineup, with mergers affecting other funds but not FIMIX. Assets under management stood at approximately $529.5-$542 million as of late 2025, reflecting stable operations.