According to a recent SEC filing, Fidelity Investments will liquidate its Fidelity Ultra Short Bond Fund (FUSFX), including all other share classes (FUBAX, FTUSX, FUBIX), this week. It says, "The Board of Trustees has approved a plan of liquidation for the fund effective after the close of business on or about June 13, 2014. In connection with the liquidation, the fund will be closed to new investors on April 25, 2014, and the fund will remove its 0.25% redemption fee on shares held less than 60 days, effective on March 14, 2014." The filing continues, "Effective after the close of business on April 25, 2014, new positions in the fund may no longer be opened. Existing shareholders may continue to hold their shares (including any shares acquired pursuant to the reinvestment of dividend and capital gain distributions)." The fund had $81.5 million in assets and a yield of 0.27% as of May 31. Fidelity has another fund it categorizes as an Ultra Short bond fund, the Fidelity Conservative Income Fund (FCONX) with $1.5 billion in assets as of May 31. The Fidelity Conservative Income Bond Fund Institutional Class (FCNVX) has $2.3 billion in assets. In other news, ICI released its latest "Money Market Mutual Fund Assets" report, which says, "Total money market fund assets1 increased by $2.56 billion to $2.58 trillion for the week ended Wednesday, June 11."

Email This Article




Use a comma or a semicolon to separate

captcha image