Fidelity New York Municipal Income
FTFMX
NASDAQ12.56
USD
+0.01
- -
CIK
0000718581
ISIN
US3163372036
CUSIP
316337203
Return %
Stock
S&P500
1Y
4.49
19.01
3Y
3.20
65.48
5Y
-9.12
72.20
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.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Boston, MA 02109 San Mateo CA United States of America 94403-1906
- IPO Date
- Jul 10, 1984
- CIK
- 0000718581
- Website
- franklintempleton.com
- Similar Companies
- Business
- Fidelity New York Municipal Income Fund (ticker: FTFMX) is an open‑end municipal bond mutual fund that seeks a high level of current income exempt from federal and New York State personal income taxes by investing primarily in investment‑grade New York municipal securities. The fund is part of the Fidelity Investments family of funds and is managed within Fidelity’s municipal bond platform, which focuses on credit research–driven portfolio construction across state‑specific and national tax‑exempt strategies. The fund’s core investment activities include purchasing and holding New York municipal bonds; structuring a diversified portfolio across sectors such as general obligation, essential‑service revenue, transportation, healthcare, education, and other tax‑exempt issuers; managing duration and yield‑curve exposure; and selectively using cash and short‑term tax‑exempt instruments for liquidity and risk management. It targets individual and institutional investors seeking tax‑advantaged income, including New York residents in higher tax brackets who benefit most from double tax exemption at the federal and state levels. The fund’s primary “products” consist of its different share classes, which provide exposure to the same underlying New York municipal bond portfolio with varying fee and minimum‑investment structures; these typically include investor or retail shares; advisor or institutional shares; and, where applicable, load‑waived or transaction‑fee and no‑transaction‑fee platforms offered through intermediaries. Key services associated with the fund include daily net asset value calculation and liquidity at end‑of‑day prices; automatic dividend reinvestment or cash distribution options; systematic investment and withdrawal plans; and integration into tax‑advantaged accounts such as IRAs and other brokerage platforms offered by Fidelity. Fidelity’s municipal bond research and portfolio management teams provide ongoing credit surveillance of New York municipal issuers; active trading and repositioning of holdings in response to interest‑rate expectations, credit developments, and supply‑demand dynamics; and risk management focused on credit quality, sector and issuer concentration, and call‑risk characteristics across the portfolio. Within the last one to two years, the most notable changes affecting Fidelity New York Municipal Income Fund and comparable Fidelity state‑specific municipal funds have generally involved portfolio positioning and risk management rather than fundamental changes to the fund’s mandate, reflecting the interest‑rate and credit environment in U.S. municipal markets. These developments commonly include adjustments to duration and yield‑curve exposure in response to Federal Reserve policy; shifts in sector and credit allocations to emphasize higher‑quality issuers or attractive spread sectors within New York municipal markets; and refinements to liquidity management practices to support consistent daily redemptions, particularly during periods of elevated market volatility. Across the Fidelity fund complex, recent initiatives in distribution and service—such as expanded availability of funds on third‑party platforms, digital tools for municipal bond research, and enhanced tax reporting and income‑distribution options—also affect how investors access and use the fund, even though the fund’s core investment objective and New York tax‑exempt municipal income focus remain unchanged. Fidelity New York Municipal Income Fund operates within the U.S. asset management industry’s municipal bond segment and is offered primarily to U.S. investors, with a geographic investment focus on municipal issuers located in the State of New York and its localities and authorities. The fund is organized as a series of an open‑end investment company sponsored and advised by entities within Fidelity Investments, with day‑to‑day portfolio management handled by Fidelity’s municipal fixed income professionals under the oversight of the fund’s board of trustees. The fund’s inception dates back to the broader build‑out of Fidelity’s suite of tax‑exempt mutual funds, and it is headquartered and legally domiciled in the United States through the Fidelity complex, which is based in Boston, Massachusetts, while serving New York‑focused municipal bond investors nationwide through Fidelity’s distribution network of brokerage, retirement, and advisory channels.