A Deep Bench Bodes Well for Fidelity Intermediate Municipal Income

Another manager is retiring, but this fund is run by a dynamic team of mostly longtime members.

The last time we checked in with Fidelity Intermediate Municipal Income (symbol FLTMX), longtime manager Mark Sommer had just retired. Now, Kevin Ramundo, comanager since 2010, is retiring, too, in June. “I’m going to spend time hiking the Appalachian trail and skiing,” he says. Fund manager changes make us wary. But this fund is run by a team of mostly longtime members who follow a well-honed process.

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Nellie S. Huang
Senior Associate Editor, Kiplinger's Personal Finance

Nellie joined Kiplinger in August 2011 after a seven-year stint in Hong Kong. There, she worked for the Wall Street Journal Asia, where as lifestyle editor, she launched and edited Scene Asia, an online guide to food, wine, entertainment and the arts in Asia. Prior to that, she was an editor at Weekend Journal, the Friday lifestyle section of the Wall Street Journal Asia. Kiplinger isn't Nellie's first foray into personal finance: She has also worked at SmartMoney (rising from fact-checker to senior writer), and she was a senior editor at Money.