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 financial consultant 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.
Fidelity Portfolio Advisory Service® and Fidelity® Strategic Disciplines are services of Strategic Advisers, Inc., a registered investment adviser and a Fidelity Investments company. Fidelity® Personalized Portfolios may be offered through the following Fidelity Investments companies: Strategic Advisers, Inc., Fidelity Personal Trust Company, FSB ("FPTC"), a federal savings bank, or Fidelity Management Trust Company ("FMTC"). Non-deposit investment products and trust services offered through FPTC and FMTC and their affiliates are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency, are not obligations of any bank, and are subject to risk, including possible loss of principal. These services provide discretionary money management for a fee.
Brokerage services are provided by Fidelity Brokerage Services LLC. Custody and other services are provided by National Financial Services LLC. Both are Fidelity Investments companies and Members of NYSE and SIPC.