Fidelity Investments has rolled out a series of four funds that will combine target date portfolios and municipal-bond investing. The Fidelity Defined Maturity Funds have maturity dates ranging from 2015 to 2021.
The funds, which will be managed by Fidelity’s municipal bond team, seek to bridge the gap between individual bonds and bond funds. The Defined Maturity Funds will pursue investment grade municipal bonds with maturities close to the funds’ defined end dates.
Click here for the release from Fidelity.
