Fidelity New York Municipal Income is losing another experienced comanager, but the team that remains has solid industry experience. This, combined with the strategy’s consistent and distinctive approach, will help it retain its edge, resulting in a Morningstar Analyst Rating of Silver or Bronze for the strategy’s cheaper share classes, while its more expensive share classes earn a Neutral.
Will FNYCX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FNYCX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the FNYCX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of FNYCX’s parent organization’s priorities and whether they’re in line with investors’ interests.