Fidelity Limited Term Municipal Income Fund
FSTFX
NASDAQ- -
USD
- -
- -
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 - Income
- Address
- 245 Summer Street Boston MA United States of America 02210
- IPO Date
- Dec 24, 1986
- CIK
- 0000035373
- Website
- fundresearch.fidelity.com
- Similar Companies
- Business
- Fidelity Limited Term Municipal Income Fund (FSTFX) is an open-end mutual fund managed by Fidelity Investments that seeks a high level of current income exempt from federal income taxation by investing primarily in investment-grade municipal securities. The fund normally invests at least 80% of its assets in municipal debt obligations with interest exempt from federal income tax, maintaining a dollar-weighted average maturity of between two and five years; it may invest more than 25% of total assets in municipal securities financing similar projects, such as airports, utilities, hospitals, housing, and education facilities. Holdings predominantly consist of U.S. municipal tax-exempt bonds (approximately 96%), cash equivalents, and minimal non-U.S. bonds, with top exposures including New York State Dormitory Authority sales tax revenue bonds and Wisconsin State Health & Educational Facilities Authority revenue bonds. The fund, domiciled in the United States and listed on NASDAQ, targets individual and institutional investors seeking tax-efficient, short-intermediate term fixed income exposure within the Muni National Short category. It operates geographically across U.S. municipal issuers, with portfolio turnover at approximately 22% and total net assets of about $2.74 billion as of recent data. Inaugurated on December 24, 1986, and headquartered with Fidelity Investments in Boston, Massachusetts, the fund is managed by a team including Cormac Cullen (since May 2016), Elizah McLaughlin (since September 2018), and Michael Maka (since March 2020). Fidelity Investments, the fund family parent, serves as advisor with no reported subsidiaries specific to FSTFX. Recent developments include continued portfolio positioning for anticipated heavy municipal supply in 2025 exceeding 2024 records amid term rate cuts, with Q1 2025 commentary noting research-driven strategies over interest rate speculation and gains from airport and utility sectors in Q2 2025. The fund maintained stable management and delivered semiannual returns of 2.17% for Retail Class shares through June 30, 2025, outperforming its Bloomberg 1-6 Year Municipal Bond Index benchmark slightly; no major acquisitions, partnerships, or structural changes were reported for the fund itself in 2024-2025, though Fidelity broadly pursued M&A in wealth management.