Fidelity Hereford Street Trust-Flexible Government Money Market Fund
FLGXX
NASDAQ- -
USD
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Capital Structure
FRC
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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
- 245 Summer Street Boston MA United States of America 02210
- IPO Date
- Mar 8, 2017
- CIK
- 0000917286
- Website
- fundresearch.fidelity.com
- Similar Companies
- Business
- Fidelity Hereford Street Trust-Flexible Government Money Market Fund (FLGXX) is a money market fund that seeks as high a level of current income as is consistent with the preservation of capital and liquidity. The fund normally invests at least 99.5% of its total assets in cash, U.S. government securities and/or repurchase agreements that are collateralized fully by cash or government securities; it may also invest in U.S. government securities issued by entities chartered or sponsored by Congress but whose securities are neither issued nor guaranteed by the U.S. Treasury. Its portfolio includes U.S. Treasury bills, Federal Home Loan Bank securities, and repurchase agreements with counterparties such as FICC BONY DVP REPO (GOV); top holdings represent approximately 20.40% of assets, with an emphasis on short-term, high-quality instruments to maintain a stable net asset value of $1.00 per share. The fund offers daily liquidity, monthly dividend distributions, and features a 0.00% expense ratio, with no minimum investment requirement. Fidelity Hereford Street Trust, the open-end management investment company registered under the Investment Company Act of 1940 that houses FLGXX as a series, maintains its principal address at 82 Devonshire Street, Boston, Massachusetts, with operations centered in the United States. The fund itself commenced operations on March 8, 2017, as part of Fidelity Investments' broader suite of institutional money market products targeting institutional investors seeking cash management solutions. It operates within the institutional U.S. government money market category, competing with similar low-risk vehicles focused on capital preservation amid fluctuating short-term interest rates. No major strategic changes, such as acquisitions, partnerships, funding rounds, new product launches, or reorganizations, have been reported for the fund or its trust in the last 1-2 years. Recent SEC filings confirm ongoing prospectus updates without material alterations to investment objectives or structure, reflecting stable operations amid Fidelity's continued emphasis on money market liquidity products. The fund maintains assets under management of approximately $99.62 million, with a 1-year total return of 1.94% including dividends, underscoring its role in Fidelity's government money market offerings.