FNMAX

About FNMAX

Fidelity Advisor New York Municipal Income Fund Class A is an actively managed municipal bond mutual fund focused on generating a high level of tax‑exempt income for New York residents. The portfolio primarily holds investment‑grade New York municipal securities, including general obligation and revenue bonds, with at least 80% of assets in interest that is exempt from federal and New York State and City income taxes. The fund distributes income monthly and maintains a risk profile aligned with intermediate‑to‑long municipal duration, reflecting its emphasis on diversified New York issuers such as transportation authorities and state‑supported revenue bonds. Key characteristics include a research‑driven approach to credit selection, yield‑curve positioning, and structural analysis, targeting competitive tax‑exempt income while preserving capital. With a long operating history and multiple share classes across the same strategy, the fund plays a role in the muni market by channeling capital to essential public projects in transportation, education, and urban development within New York.