Breckinridge Intermediate Municipal Separately Managed Account (SMA)
This account offers professional management of individual investment-grade1 municipal bonds.
|Professional investment management||An actively managed account focused on risk management, diversification, credit research, and generating federally tax-exempt interest income|
|Credit research and ongoing monitoring||Credit research is performed on each and every bond in the portfolio, and credit ratings are monitored to help limit risk to principal|
|Favorable bond pricing||Leverage industry experience and institutional trading relationships to seek access to favorable bond pricing|
|A personal relationship||A dedicated account executive and portfolio specialist who work together to help ensure your managed account and overall financial needs are taken care of|
|Description||A portfolio constructed primarily with intermediate term, investment grade municipal bonds1 seeking diversification across sectors, issuers, and maturities|
|Annual advisory fee||An annual advisory fee will be charged—between 0.25% and 0.35%—and will vary based on total assets invested.2|
Strategic Advisers, Inc., a Fidelity Investments company and Breckinridge Capital Advisors, Inc., both registered investment advisers
|Investment strategy||A portfolio constructed primarily of intermediate-term, investment grade municipal bonds offered for both national and state preference options. Portfolios seek to limit risk to principal while generating federally tax-exempt interest income.3 With the state preference option, state tax-exempt interest income is emphasized over national diversification.|
|Investment holdings||Primarily investment-grade municipal bonds. A significant portion of the bonds in your portfolio will have an Aaa or Aa credit quality rating from Moody's at the time of purchase and/or an AAA or AA credit quality rating from S&P at the time of purchase.4|
How we keep in touch
You will have two people ready to help you:
|Customized communications||Monthly statements, quarterly investment reviews, and an exclusive client website with access to account-specific information, investment commentary, and market insights from Fidelity and Breckinridge|
To open a Breckinridge Intermediate Municipal SMA with Fidelity, start by telling us your financial needs and goals.
Call an investment professional at 800-544-1766.