Fidelity
®
New York Municipal Income Fund
Class
/Ticker
Fidelity New York Municipal Income Fund
/FTFMX
In this summary prospectus, the term "shares" (as it relates to the fund) means the class of shares offered through this summary
prospectus.
Summary Prospectus
April 1, 2013
Fund Summary
Fund
/Class:
Fidelity
®
New York Municipal Income Fund
/Fidelity New York Municipal Income Fund
Investment Objective
The fund seeks a high level of current income, exempt from federal and New York State and City personal income taxes.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, or sell shares of the fund.
Shareholder fees
(fees paid directly from your investment)
|
|
Redemption fee on shares held less than 30 days (as a % of amount redeemed)
|
0.50%
|
Annual class operating expenses
(expenses that you pay each year as a % of the value of your investment)
Management fee
|
0.37%
|
Distribution and/or Service (12b-1) fees
|
None
|
Other expenses
|
0.10%
|
Total annual operating expenses
|
0.47%
|
This
example
helps compare the cost of investing in the fund with the cost of investing in other mutual funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses
for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in
total expenses if you sell all of your shares at the end of each time period indicated:
1 year
|
$ 48
|
3 years
|
$ 151
|
5 years
|
$ 263
|
10 years
|
$ 591
|
Summary Prospectus
Portfolio Turnover
The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover
rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which
are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's
portfolio turnover rate was 16% of the average value of its portfolio.
Principal Investment Strategies
-
Normally investing at least 80% of assets in investment-grade municipal securities whose interest is exempt from federal and New York State
and City personal income taxes.
-
Managing the fund to have similar overall interest rate risk to an index designed to represent Fidelity Management & Research Company
(FMR)'s view of how the fund's competitive universe will perform over time.
-
Allocating assets across different market sectors and maturities.
-
Potentially investing more than 25% of total assets in municipal securities that finance similar types of projects.
-
Analyzing the credit quality of the issuer, security-specific features, current and potential future valuation, and trading opportunities to select
investments.
Principal Investment Risks
-
Municipal Market Volatility.
The municipal market is volatile and can be significantly affected by adverse tax, legislative, or political
changes and the financial condition of the issuers of municipal securities.
-
Interest Rate Changes.
Interest rate increases can cause the price of a debt security to decrease.
-
Geographic Concentration.
Unfavorable political or economic conditions within New York can affect the credit quality of issuers located in
that state.
-
Issuer-Specific Changes.
The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole. A decline in the credit quality of an issuer or a provider of credit support or a maturity-shortening structure
for a security can cause the price of a security to decrease.
In addition, the fund is considered non-diversified and can invest a greater portion of assets in securities of a smaller number of individual issuers
than a diversified fund. As a result, changes in the market value of a single investment could cause greater fluctuations in share price than would
occur in a more diversified fund.
An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other
government agency. Unlike individual debt securities, which typically pay principal at maturity, the value of an investment in the fund will fluctuate. You could lose money by investing in the fund.
Summary Prospectus
Fund Summary - continued
Performance
The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the
performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market
index and an additional index over various periods of time. The indexes have characteristics relevant to the fund's investment strategies. Index
descriptions appear in the Additional Information about the Indexes section of the prospectus. Past performance (before and after taxes) is not
an indication of future performance.
Visit www.fidelity.com for updated return information.
Year-by-Year Returns
Calendar Years
|
2003
|
2004
|
2005
|
2006
|
2007
|
2008
|
2009
|
2010
|
2011
|
2012
|
|
5.50%
|
4.44%
|
3.07%
|
4.57%
|
3.32%
|
-2.48%
|
12.10%
|
2.36%
|
9.59%
|
6.53%
|
During the periods shown in the chart:
|
Returns
|
Quarter ended
|
Highest Quarter Return
|
6.49%
|
September 30, 2009
|
Lowest Quarter Return
|
-4.10%
|
December 31, 2010
|
Average Annual Returns
After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or
local taxes. Actual after-tax returns may differ depending on your individual circumstances.
Summary Prospectus
For the periods ended
December 31, 2012
|
Past 1
year
|
Past 5
years
|
Past 10
years
|
Fidelity New York Municipal Income Fund
|
|
|
|
Return Before Taxes
|
6.53%
|
5.49%
|
4.83%
|
Return After Taxes on Distributions
|
6.49%
|
5.47%
|
4.73%
|
Return After Taxes on Distributions and Sale of Fund Shares
|
5.46%
|
5.25%
|
4.67%
|
Barclays
®
Municipal Bond Index
(reflects no deduction for fees, expenses, or taxes)
|
6.78%
|
5.91%
|
5.10%
|
Barclays New York 4+ Year Enhanced Municipal Bond Index
(reflects no deduction for fees, expenses, or taxes)
|
6.94%
|
6.22%
|
5.40%
|
Investment Advisers
FMR is the fund's manager. Fidelity Investments Money Management, Inc. (FIMM) and other investment advisers serve as sub-advisers for the
fund.
Portfolio Manager(s)
Mark Sommer (portfolio manager) has managed the fund since June 2002.
Purchase and Sale of Shares
You may buy or sell shares of the fund through a Fidelity brokerage or mutual fund account, or through an investment professional. You may buy
or sell shares in various ways:
Internet
www.fidelity.com
|
Phone
Fidelity Automated Service Telephone (FAST
®
) 1-800-544-5555
To reach a Fidelity representative 1-800-544-6666
|
Mail
|
Additional purchases:
Fidelity Investments
P.O. Box 770001
Cincinnati, OH 45277-0003
|
Redemptions:
Fidelity Investments
P.O. Box 770001
Cincinnati, OH 45277-0035
|
TDD - Service for the Deaf and Hearing Impaired
1-800-544-0118
|
The price to buy one share of the fund is its net asset value per share (NAV). Your shares will be bought at the NAV next calculated after your
investment is received in proper form.
The price to sell one share of the fund is its NAV, minus the short-term redemption fee, if applicable. Your shares will be sold at the NAV next calculated after your order is received in proper form, minus the short-term redemption fee, if applicable.
The fund is open for business each day the New York Stock Exchange (NYSE) is open.
Initial Purchase Minimum
|
$10,000
|
The fund may waive or lower purchase minimums.
Summary Prospectus
Fund Summary - continued
Tax Information
The fund seeks to earn income and pay dividends exempt from federal income tax and New York State and City personal income taxes. A portion of the dividends you receive may be subject to federal, state, or local income tax and may also be subject to the federal alternative minimum tax. You may also receive taxable distributions attributable to the fund's sale of municipal bonds.
Payments to Financial Intermediaries
The fund, FMR, Fidelity Distributors Corporation (FDC), and/or their affiliates may pay intermediaries, including retirement plan sponsors, administrators, or service-providers (who may be affiliated with FMR or FDC), for the sale of fund shares and related services. These payments
may create a conflict of interest by influencing your intermediary and your investment professional to recommend the fund over another investment. Ask your investment professional or visit your intermediary's web site for more information.
Summary Prospectus
FDC is a member of the Securities Investor Protection Corporation (SIPC). You may obtain information about SIPC, including the SIPC brochure, by visiting www.sipc.org or calling SIPC at
202-371-8300.
Fidelity, Fidelity Investments & Pyramid Design, and FAST are registered service marks of FMR LLC.© 2013 FMR LLC. All rights reserved.
The third-party marks appearing above are the marks of their respective owners.
1.923861.102 NFY-SUM-0313
Fidelity
®
New York Municipal Income Fund
Class
/Ticker
Fidelity Advisor
®
New York Municipal Income Fund A
/FNMAX
T
/FNYPX
B
/FNYBX
C
/FNYCX
Summary Prospectus
April 1, 2013
Fund Summary
Fund/
Class:
Fidelity
®
New York Municipal Income Fund/
Fidelity Advisor
®
New York Municipal Income Fund A,
T,
B,
C
Investment Objective
The fund seeks a high level of current income, exempt from federal and New York State and City personal income taxes.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, or sell shares of the fund.
You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the fund or certain
other Fidelity funds. More information about these and other discounts is available from your investment professional and in the Fund Distribution section beginning on page 28 of the prospectus.
Shareholder fees
(fees paid directly from your investment)
|
|
Class A
|
|
Class T
|
|
Class B
|
|
Class C
|
Maximum sales charge (load) on purchases (as a % of offering price)
|
4.00%
|
|
4.00%
|
|
None
|
|
None
|
Maximum contingent deferred sales charge (as a % of the lesser of original purchase price or redemption proceeds)
|
None
A
|
|
None
A
|
|
5.00%
B
|
|
1.00%
C
|
Redemption fee on shares held less than 30 days (as a % of amount redeemed)
|
0.50%
|
|
0.50%
|
|
0.50%
|
|
0.50%
|
A
Class A and Class T purchases of $1 million or more will not be subject to a front-end sales charge. Such Class A and Class T purchases may be subject, upon redemption, to a contingent deferred sales charge
(CDSC) of 0.75% or 0.25%, respectively.
B
Declines over 6 years from 5.00% to 0%.
C
On Class C shares redeemed less than one year after purchase.
Summary Prospectus
Annual class operating expenses
(expenses that you pay each year as a % of the value of your investment)
|
Class A
|
|
Class T
|
|
Class B
|
|
Class C
|
Management fee
|
0.37%
|
|
0.37%
|
|
0.37%
|
|
0.37%
|
Distribution and/or Service (12b-1) fees
|
0.25%
|
|
0.25%
|
|
0.90%
|
|
1.00%
|
Other expenses
|
0.15%
|
|
0.10%
|
|
0.12%
|
|
0.17%
|
Total annual operating expenses
|
0.77%
|
|
0.72%
|
|
1.39%
|
|
1.54%
|
This
example
helps compare the cost of investing in the fund with the cost of investing in other mutual funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses
for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in
total expenses if you sell all of your shares at the end of each time period indicated and if you hold your shares:
|
Class A
|
Class T
|
Class B
|
Class C
|
|
Sell All
Shares
|
Hold
Shares
|
Sell All
Shares
|
Hold
Shares
|
Sell All
Shares
|
Hold
Shares
|
Sell All
Shares
|
Hold
Shares
|
1 year
|
$ 475
|
$ 475
|
$ 471
|
$ 471
|
$ 642
|
$ 142
|
$ 257
|
$ 157
|
3 years
|
$ 636
|
$ 636
|
$ 621
|
$ 621
|
$ 740
|
$ 440
|
$ 486
|
$ 486
|
5 years
|
$ 811
|
$ 811
|
$ 785
|
$ 785
|
$ 961
|
$ 761
|
$ 839
|
$ 839
|
10 years
|
$ 1,316
|
$ 1,316
|
$ 1,259
|
$ 1,259
|
$ 1,420
|
$ 1,420
|
$ 1,834
|
$ 1,834
|
Portfolio Turnover
The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover
rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which
are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's
portfolio turnover rate was 16% of the average value of its portfolio.
Principal Investment Strategies
-
Normally investing at least 80% of assets in investment-grade municipal securities whose interest is exempt from federal and New York State
and City personal income taxes.
-
Managing the fund to have similar overall interest rate risk to an index designed to represent Fidelity Management & Research Company
(FMR)'s view of how the fund's competitive universe will perform over time.
Summary Prospectus
Fund Summary - continued
-
Allocating assets across different market sectors and maturities.
-
Potentially investing more than 25% of total assets in municipal securities that finance similar types of projects.
-
Analyzing the credit quality of the issuer, security-specific features, current and potential future valuation, and trading opportunities to select
investments.
Principal Investment Risks
-
Municipal Market Volatility.
The municipal market is volatile and can be significantly affected by adverse tax, legislative, or political
changes and the financial condition of the issuers of municipal securities.
-
Interest Rate Changes.
Interest rate increases can cause the price of a debt security to decrease.
-
Geographic Concentration.
Unfavorable political or economic conditions within New York can affect the credit quality of issuers located in
that state.
-
Issuer-Specific Changes.
The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole. A decline in the credit quality of an issuer or a provider of credit support or a maturity-shortening structure for a security can cause the price of a security to decrease.
In addition, the fund is considered non-diversified and can invest a greater portion of assets in securities of a smaller number of individual issuers than a diversified fund. As a result, changes in the market value of a single investment could cause greater fluctuations in share price than
would occur in a more diversified fund.
An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other
government agency. Unlike individual debt securities, which typically pay principal at maturity, the value of an investment in the fund will fluctuate. You could lose money by investing in the fund.
Performance
The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the
performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market
index and an additional index over various periods of time. The indexes have characteristics relevant to the fund's investment strategies. Index
descriptions appear in the Additional Information about the Indexes section of the prospectus. Past performance (before and after taxes) is not
an indication of future performance.
Visit www.advisor.fidelity.com for updated return information.
Summary Prospectus
Year-by-Year Returns
The returns in the bar chart do not reflect any applicable sales charges; if sales charges were reflected, returns would be lower than those
shown.
Calendar Years
|
2003
|
2004
|
2005
|
2006
|
2007
|
2008
|
2009
|
2010
|
2011
|
2012
|
|
5.39%
|
4.16%
|
2.87%
|
4.38%
|
3.14%
|
-2.75%
|
11.78%
|
1.98%
|
9.37%
|
6.21%
|
During the periods shown in the chart
for Class A:
|
Returns
|
Quarter ended
|
Highest Quarter Return
|
6.34%
|
September 30, 2009
|
Lowest Quarter Return
|
-4.17%
|
December 31, 2010
|
Average Annual Returns
Unlike the returns in the bar chart, the returns in the table reflect the maximum applicable sales charges. After-tax returns are calculated using
the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. After-tax returns for
Class A are shown in the table below and after-tax returns for other classes will vary. Actual after-tax returns may differ depending on your individual circumstances. Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to
a tax benefit of realizing a capital loss upon the sale of fund shares.
Summary Prospectus
Fund Summary - continued
For the periods ended
December 31, 2012
|
Past 1
year
|
Past 5
years
|
Past 10
years
|
Class A - Return Before Taxes
|
1.96%
|
4.33%
|
4.16%
|
Return After Taxes on Distributions
|
1.93%
|
4.31%
|
4.06%
|
Return After Taxes on Distributions and Sale of Fund Shares
|
2.34%
|
4.19%
|
4.04%
|
Class T - Return Before Taxes
|
2.01%
|
4.36%
|
4.14%
|
Class B - Return Before Taxes
|
0.48%
|
4.18%
|
4.04%
|
Class C - Return Before Taxes
|
4.40%
|
4.38%
|
3.74%
|
Barclays
®
Municipal Bond Index
(reflects no deduction for fees, expenses, or taxes)
|
6.78%
|
5.91%
|
5.10%
|
Barclays
®
New York 4+ Year Enhanced Municipal Bond Index
(reflects no deduction for fees, expenses, or taxes)
|
6.94%
|
6.22%
|
5.40%
|
Investment Advisers
FMR is the fund's manager. Fidelity Investments Money Management, Inc. (FIMM)
and other investment advisers serve as sub-advisers for the
fund.
Portfolio Manager(s)
Mark Sommer (portfolio manager) has managed the fund since June 2002.
Purchase and Sale of Shares
You may buy or sell Class A, Class T, Class B, and Class C shares of the fund through an investment professional. You may buy or sell shares in
various ways:
Internet
www.advisor.fidelity.com
|
Phone
To reach a Fidelity representative 1-877-208-0098
|
Mail
|
Fidelity Investments
P.O. Box 770002
Cincinnati, OH 45277-0081
|
Overnight Express:
Fidelity Investments
100 Crosby Parkway
Covington, KY 41015
|
Subject to certain limited exceptions described in the Additional Information about the Purchase and Sale of Shares section of the prospectus, the fund no longer accepts investments in Class B shares. Any purchase order for Class B shares of the fund (other than from an existing
Class B shareholder pursuant to an exchange or the reinvestment of dividends and capital gain distributions paid on Class B shares) will be
deemed to be a purchase order for Class A shares of the fund and will be subject to any applicable Class A front-end sales charge.
The price to buy one share of Class A or Class T is its offering price, if you pay a front-end sales charge, or its net asset value per share (NAV), if
you qualify for a front-end sales charge waiver. The price to buy one share of Class B or Class C is its NAV. Your shares will be bought at the offering price or NAV, as applicable, next calculated after your order is received in proper form.
Summary Prospectus
The price to sell one share of Class A, Class T, Class B, or Class C is its NAV, minus the short-term redemption fee, if applicable, and any applicable
contingent deferred sales charge (CDSC). Your shares will be sold at the NAV next calculated after your order is received in proper form, minus
the short-term redemption fee, if applicable, and any applicable CDSC.
The fund is open for business each day the New York Stock Exchange (NYSE) is open.
Initial Purchase Minimum
|
$2,500
|
Through a regular investment plan established at the time the fund position is opened
|
$100
|
The fund may waive or lower purchase minimums in other circumstances.
After a maximum of seven years from the initial purchase date, Class B shares convert automatically to Class A shares of the fund at NAV.
Tax Information
The fund seeks to earn income and pay dividends exempt from federal income tax and New York State and City personal income taxes. A portion of
the dividends you receive may be subject to federal, state, or local income tax and may also be subject to the federal alternative minimum tax. You
may also receive taxable distributions attributable to the fund's sale of municipal bonds.
Payments to Broker-Dealers and Other Financial Intermediaries
The fund, FMR, Fidelity Distributors Corporation (FDC), and/or their affiliates may pay intermediaries, including banks, broker-dealers, or other
service-providers (who may be affiliated with FMR or FDC), for the sale of fund shares and related services. These payments may create a conflict
of interest by influencing your intermediary and your investment professional to recommend the fund over another investment. Ask your investment professional or visit your intermediary's web site for more information.
Summary Prospectus
FDC is a member of the Securities Investor Protection Corporation (SIPC). You may obtain information about SIPC, including the SIPC brochure, by visiting www.sipc.org or calling SIPC at
202-371-8300.
Fidelity, Fidelity Advisor, and Fidelity Investments & Pyramid Design are registered service marks of FMR LLC. © 2013 FMR LLC. All rights reserved.
The third-party marks appearing above are the marks of their respective owners.
1.923862.102 ASNM-SUM-0313
Fidelity
®
New York Municipal Income Fund
Class
/Ticker
Fidelity Advisor
®
New York Municipal Income Fund Institutional
/FEMIX
Summary Prospectus
April 1, 2013
Fund Summary
Fund/
Class:
Fidelity
®
New York Municipal Income Fund/
Fidelity Advisor
®
New York Municipal Income Fund Institutional
Investment Objective
The fund seeks a high level of current income, exempt from federal and New York State and City personal income taxes.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, or sell shares of the fund.
Shareholder fees
(fees paid directly from your investment)
|
Redemption fee on shares held less than 30 days (as a % of amount redeemed)
|
0.50%
|
Annual class operating expenses
(expenses that you pay each year as a % of the value of your investment)
Management fee
|
0.37%
|
Distribution and/or Service (12b-1) fees
|
None
|
Other expenses
|
0.16%
|
Total annual operating expenses
|
0.53%
|
This
example
helps compare the cost of investing in the fund with the cost of investing in other mutual funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses
for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in
total expenses if you sell all of your shares at the end of each time period indicated:
1 year
|
$ 54
|
3 years
|
$ 170
|
5 years
|
$ 296
|
10 years
|
$ 665
|
Summary Prospectus
Portfolio Turnover
The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover
rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which
are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's
portfolio turnover rate was 16% of the average value of its portfolio.
Principal Investment Strategies
-
Normally investing at least 80% of assets in investment-grade municipal securities whose interest is exempt from federal and New York State
and City personal income taxes.
-
Managing the fund to have similar overall interest rate risk to an index designed to represent Fidelity Management & Research Company
(FMR)'s view of how the fund's competitive universe will perform over time.
-
Allocating assets across different market sectors and maturities.
-
Potentially investing more than 25% of total assets in municipal securities that finance similar types of projects.
-
Analyzing the credit quality of the issuer, security-specific features, current and potential future valuation, and trading opportunities to select
investments.
Principal Investment Risks
-
Municipal Market Volatility.
The municipal market is volatile and can be significantly affected by adverse tax, legislative, or political
changes and the financial condition of the issuers of municipal securities.
-
Interest Rate Changes.
Interest rate increases can cause the price of a debt security to decrease.
-
Geographic Concentration.
Unfavorable political or economic conditions within New York can affect the credit quality of issuers located in
that state.
-
Issuer-Specific Changes.
The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole. A decline in the credit quality of an issuer or a provider of credit support or a maturity-shortening structure for a
security can cause the price of a security to decrease.
In addition, the fund is considered non-diversified and can invest a greater portion of assets in securities of a smaller number of individual issuers than a diversified fund. As a result, changes in the market value of a single investment could cause greater fluctuations in share price than
would occur in a more diversified fund.
An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other
government agency. Unlike individual debt securities, which typically pay principal at maturity, the value of an investment in the fund will fluctuate. You could lose money by investing in the fund.
Summary Prospectus
Fund Summary - continued
Performance
The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the
performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market
index and an additional index over various periods of time. The indexes have characteristics relevant to the fund's investment strategies. Index
descriptions appear in the Additional Information about the Indexes section of the prospectus. Past performance (before and after taxes) is not
an indication of future performance.
Visit www.advisor.fidelity.com for updated return information.
Year-by-Year Returns
Calendar Years
|
2003
|
2004
|
2005
|
2006
|
2007
|
2008
|
2009
|
2010
|
2011
|
2012
|
|
5.52%
|
4.32%
|
3.05%
|
4.57%
|
3.32%
|
-2.49%
|
12.07%
|
2.29%
|
9.53%
|
6.47%
|
During the periods shown in the chart:
|
Returns
|
Quarter ended
|
Highest Quarter Return
|
6.49%
|
September 30, 2009
|
Lowest Quarter Return
|
-4.04%
|
December 31, 2010
|
Average Annual Returns
After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or
local taxes. Actual after-tax returns may differ depending on your individual circumstances.
Summary Prospectus
For the periods ended
December 31, 2012
|
Past 1
year
|
Past 5
years
|
Past 10
years
|
Institutional Class
|
|
|
|
Return Before Taxes
|
6.47%
|
5.45%
|
4.80%
|
Return After Taxes on Distributions
|
6.43%
|
5.43%
|
4.69%
|
Return After Taxes on Distributions and Sale of Fund Shares
|
5.40%
|
5.20%
|
4.64%
|
Barclays
®
Municipal Bond Index
(reflects no deduction for fees, expenses, or taxes)
|
6.78%
|
5.91%
|
5.10%
|
Barclays
®
New York 4+ Year Enhanced Municipal Bond Index
(reflects no deduction for fees, expenses, or taxes)
|
6.94%
|
6.22%
|
5.40%
|
Investment Advisers
FMR is the fund's manager. Fidelity Investments Money Management, Inc. (FIMM) and other investment advisers serve as sub-advisers for the
fund.
Portfolio Manager(s)
Mark Sommer (portfolio manager) has managed the fund since June 2002.
Purchase and Sale of Shares
Institutional Class eligibility requirements are listed in the Additional Information about the Purchase and Sale of Shares section of the prospectus.
You may buy or sell Institutional Class shares of the fund through an investment professional. You may buy or sell shares in various ways:
Internet
www.advisor.fidelity.com
|
Phone
To reach a Fidelity representative 1-877-208-0098
|
Mail
|
Fidelity Investments
P.O. Box 770002
Cincinnati, OH 45277-0081
|
Overnight Express:
Fidelity Investments
100 Crosby Parkway
Covington, KY 41015
|
The price to buy one share of Institutional Class is its net asset value per share (NAV). Your shares will be bought at the NAV next calculated
after your order is received in proper form.
The price to sell one share of Institutional Class is its NAV, minus the short-term redemption fee, if applicable. Your shares will be sold at the NAV
next calculated after your order is received in proper form, minus the short-term redemption fee, if applicable.
The fund is open for business each day the New York Stock Exchange (NYSE) is open.
Initial Purchase Minimum
|
$2,500
|
Through a regular investment plan established at the time the fund position is opened
|
$100
|
The fund may waive or lower purchase minimums in other circumstances.
Summary Prospectus
Fund Summary - continued
Tax Information
The fund seeks to earn income and pay dividends exempt from federal income tax and New York State and City personal income taxes. A portion of the dividends you receive may be subject to federal, state, or local income tax and may also be subject to the federal alternative minimum tax. You may also receive taxable distributions attributable to the fund's sale of municipal bonds.
Payments to Broker-Dealers and Other Financial Intermediaries
The fund, FMR, Fidelity Distributors Corporation (FDC), and/or their affiliates may pay intermediaries, including banks, broker-dealers, or other
service-providers (who may be affiliated with FMR or FDC), for the sale of fund shares and related services. These payments may create a conflict
of interest by influencing your intermediary and your investment professional to recommend the fund over another investment. Ask your investment professional or visit your intermediary's web site for more information.
Summary Prospectus
FDC is a member of the Securities Investor Protection Corporation (SIPC). You may obtain information about SIPC, including the SIPC brochure, by visiting www.sipc.org or calling SIPC at
202-371-8300.
Fidelity, Fidelity Advisor, and Fidelity Investments & Pyramid Design are registered service marks of FMR LLC. © 2013 FMR LLC. All rights reserved.
The third-party marks appearing above are the marks of their respective owners.
1.923863.102 ASNMI-SUM-0313
Pernix (CE) (USOTC:PRXG)
Historical Stock Chart
From Jun 2024 to Jul 2024
Pernix (CE) (USOTC:PRXG)
Historical Stock Chart
From Jul 2023 to Jul 2024