Fidelity Flex Municipal Income Fund
FUENX
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 - Income
- Address
- 245 Summer Street Boston MA United States of America 02210
- IPO Date
- Oct 27, 2017
- CIK
- 0000035373
- Website
- fundresearch.fidelity.com
- Similar Companies
- Business
- Fidelity Flex Municipal Income Fund (FUENX) is an open-end mutual fund that seeks a high level of current income that is exempt from federal income tax by investing primarily in investment-grade municipal securities. The fund normally invests at least 80% of its assets in such securities whose interest is exempt from federal income tax; it may also allocate across different market sectors and maturities, with the potential to invest more than 25% of total assets in municipal securities financing similar types of projects, such as airports, hospitals, or transportation facilities. Portfolio holdings predominantly consist of U.S. municipal tax-exempt bonds (approximately 94%), cash and equivalents (around 6%), and minor non-U.S. bond exposure, including issues like MAIN STR NAT GAS INC GA GAS SUPPLY REV, CUYAHOGA CNTY OHIO SALES TAX REV, CHICAGO ILL bonds, PENNSYLVANIA ST TPK COMMN TPK REV, and Fidelity Municipal Cash Central; the fund maintains similar overall interest rate risk to the Bloomberg Municipal Bond Index, with medium credit quality and moderate interest-rate sensitivity. Launched on October 12, 2017, the fund is part of Fidelity's Flex series offered through Fidelity Municipal Trust and is domiciled in the United States with headquarters aligned to Fidelity Investments in Boston, Massachusetts. It operates with a net expense ratio of 0.00% to 0.01%, no front-end or deferred loads, daily pricing, a minimum initial investment of $0, and monthly dividend distributions yielding approximately 2.77% to 3.08% on assets under management of roughly $985 million as of recent reports. Managers include Cormac Cullen (since inception), Elizah McLaughlin (since 2018), and Michael Maka (since 2020); the fund targets individual and institutional investors seeking tax-efficient fixed income exposure in the Muni National Long category. Recent operational highlights include sustained monthly dividend payouts through 2025, with ex-dividend dates such as July 31, 2025, and November 28, 2025, reflecting stable income generation amid portfolio turnover of about 10% to 16%. While Fidelity has pursued mergers for various other municipal and equity funds in 2024-2025—such as FMBIX into FMUN noted in investor discussions—no specific acquisitions, partnerships, new product launches, or strategic shifts directly involving FUENX have been reported in the last 1-2 years, maintaining its focus on core municipal bond strategies. The fund remains available for sale in the United States with total net assets growing to approximately $984.76 million.