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Fidelity Investments to Disclose Daily Market Value Price per Share of Its Money Market Mutual Funds
Industry Leader Manages Money Market Mutual Funds with Nearly $430 Billion Under ManagementBOSTON -- Fidelity Investments, one of the world’s leading global asset managers and the largest U.S. money market mutual fund manager by assets, today announced that it will begin daily disclosure of the per-share market value of money market mutual funds that it manages, effective January 16, 2013.
As of November 30, 2012, Fidelity managed nearly $430 billion in its money market mutual funds. The new daily disclosure of the per-share market value for these funds does not affect the $1.00 stable net asset value (NAV) that continues to apply to all investor transactions in Fidelity money market mutual funds or the way the funds are managed.
“Our industry leadership has been built on a commitment to transparency, choice for customers and clients and the highest fund management standards,” said Nancy Prior, President of Money Markets for Fidelity Investments. “Historically, the per-share market values of our money market mutual funds have fluctuated by only tiny fractions of a penny each day. Providing more frequent disclosure of these minute changes will help investors better understand how vigilant we are in keeping our money market mutual funds safe and in maintaining the $1.00 NAV, which has always been and continues to be our #1 objective in managing these funds.”
Beginning January 16, 2013, money market mutual funds Fidelity manages will publish their per-share market values the following business day on Fidelity’s website. This information is already disclosed on a monthly basis as part of the U.S. Securities and Exchange Commission’s rules. Fidelity money market mutual fund holdings remain available daily to shareholders, upon request.
About Fidelity Investments
Fidelity Investments is one of the world’s largest providers of financial services, with assets under administration of $3.8 trillion, including managed assets of $1.7 trillion, as of November 30, 2012. Founded in 1946, the firm is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing and many other financial products and services to more than 20 million individuals and institutions, as well as through 5,000 financial intermediary firms. For more information about Fidelity Investments, visit www.fidelity.com.
An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.