Breckinridge Intermediate Municipal Separately Managed Account (SMA)

This account offers professional management of individual investment-grade1 municipal bonds.

Benefits

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 financial consultant and portfolio specialist who work together to help ensure your managed account and overall financial needs are taken care of

Account details

Description A portfolio constructed primarily with intermediate term, investment grade municipal bonds1 seeking diversification across sectors, issuers, and maturities
Minimum investment $500,000
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

Investment management

Investment team

Strategic Advisers, Inc., a Fidelity Investments company and Breckinridge Capital Advisors, Inc., both registered investment advisers

Your Investment Team

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

Fidelity contacts

You will have two people ready to help you:

  • financial consultant will be your primary contact for all of your financial needs across Fidelity.
  • A portfolio specialist will be your dedicated contact for all your managed account needs.
Customized communications Monthly statements, quarterly investment reviews, and access to account-specific information, investment commentary, and market insights from Fidelity and Breckinridge

Next step

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.