SCHEDULE 14A INFORMATION |
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PROXY STATEMENT PURSUANT TO SECTION 14(a) |
OF THE SECURITIES EXCHANGE ACT OF 1934 |
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| Filed by the Registrant | [X] |
| Filed by a Party other than the Registrant | [ ] |
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Check the appropriate box: |
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[ ] | Preliminary Proxy Statement |
[ ] | Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) |
[ ] | Definitive Proxy Statement |
[X] | Definitive Additional Materials |
[ ] | Soliciting Material under Rule 14a-12 |
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| Fidelity Money Market Trust |
| (Name of Registrant as Specified In Its Charter) |
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[ ] | Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. |
| (1) | Title of each class of securities to which transaction applies: |
| (2) | Aggregate number of securities to which transaction applies: |
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[ ] | Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. |
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jm04012015_MMKT combined Short.ppt
[PowerPoint Slide 1]
[Bold green header] What is happening with the Fidelity money market mutual funds in your retirement plans?
[Green Line with arrow logo appears]
Text - [arrow bullet] The U.S. Securities and Exchange Commission (SEC) significantly changed money market mutual fund regulations in 2014, with full implementation required by late-2016
Text - [arrow bullet] U.S. Treasury and government money market mutual funds will remain exempt from the structural changes in the SEC's new rule
Text - [arrow bullet] During periods of extraordinary market stress, redemptions from prime (general purpose) money market mutual funds could be temporarily halted, which could hinder normal retirement plan transactions (withdrawals, contributions, exchanges, etc.)
Text - [arrow bullet] Therefore, the board of trustees for several prime Fidelity money market mutual funds offered in retirement plans will request over the coming months that shareholders approve their conversion to government funds
Text - [indented square bullet] Shareholder approval of this policy change would enableFidelity Cash Reserves andRetirement Money Market Portfolio to operate as government money market funds
Text - [indented square bullet] By operating as government money market funds, the funds will seek to maintain a stable net asset value per share (NAV) and will not be subject to liquidity fees or redemption gates under the rules governing the operations of money market funds
[bottom left footer] 1 For plan sponsor use only -- not for distribution to plan participants
[bottom right footer picture of Fidelity Investments and pyramid design logo appears]
[PowerPoint Slide 2]
[Bold green header] New SEC rules for taxable money market funds will be fully implemented by October 2016
[Green Line with arrow logo appears]
[Table with green background]
Fund Type | Net Asset Value (NAV) | Liquidity Fee | Redemption Gate |
U.S. Treasury | Stable | No | No |
Government | Stable | No | No |
Retail Municipal/Tax-Exempt | Stable | Yes | Yes |
Retail Prime/General Purpose | Stable | Yes | Yes |
Institutional Municipal/Tax-Exempt | Floating | Yes | Yes |
Institutional Prime/General Purpose | Floating | Yes | Yes |
[Table with green background]
Money Market Reform | Final Rule | SEC Implementation Deadline |
Floating NAV | Applicable funds will transact and price at a net asset value per share that can change, or "float," based on pricing the underlying fund holdings out to four decimal places ($1.0000) | October 14, 2016 |
Liquidity Fee | If a fund's weekly liquid assets were to fall below 30%, fund's board may impose a 2% fee on redemptions
If a fund's weekly liquid assets were to fall below 10%, redemptions will be subject to a 1% fee, unless fund's board determines otherwise |
Redemption Gate | If a fund's weekly liquid assets were to fall below 30%, fund's board may suspend redemptions for up to 10 days |
Retail Fund Definition | Retail funds limit shareholders to beneficial ownership by "natural persons" (individuals)
Institutional funds are open to any shareholders, including individuals, small businesses, and corporations |
[bottom left footer] 2 For plan sponsor use only -- not for distribution to plan participants
[bottom right footer picture of Fidelity Investments and pyramid design logo appears]
[PowerPoint Slide 3]
[Bold green header] Important Information
[Green Line with arrow logo appears]
Text -FOR PLAN SPONSOR USE ONLY - NOT FOR DISTRIBUTION TO PLAN PARTICIPANTS
Text - These opinions are subject to change at any time based on market or other conditions. These materials are provided for informational purposes only and should not be used or construed as a recommendation of any security, sector, or investment strategy. Please consult your tax or financial advisor for additional information concerning your specific situation.
Text - Nothing contained herein constitutes investment, legal, tax or other advice nor is it to be relied on in making an investment or other decision. The information presented is only as current as the date indicated, and may be superseded by subsequent market events or for other reasons. Statements concerning financial market trends are based on current market conditions, which will fluctuate. The viewpoints expressed by me during the course of my presentation are not necessarily the viewpoints of others or Fidelity as an organization.
Text -Past performance is no guarantee of future results. Investment return will fluctuate, therefore you may have a gain or loss when you sell shares.
Text -An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the fund seeks to preserve the value of your investment at 1.00 per share, it is possible to lose money by investing in the fund. Interest rate increases can cause the price of money market securities to decrease.
Text - Diversification does not ensure a profit or guarantee against a loss.
Text - In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible. Foreign securities can be more volatile than U.S. markets due to increased risks of adverse issuer, political, regulatory, market or economic developments. Changes in government regulation, interest rates and economic downturns can have a significant effect on issuers in the financial services sector, including the price of their securities or their ability to meet their payment obligations. Prepayment of principal prior to a security's maturity can cause greater price volatility if interest rates change. The fund can invest in securities that may have a leveraging effect (such as derivatives and forward-settling securities) which may increase market exposure, magnify investment risks, and cause losses to be realized more quickly. Conservative Income Bond Fund is not a money market fund and will have a fluctuating NAV.
Text -Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
Text - Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917
Text - 718914.1.0
[bottom left footer] 3 For plan sponsor use only -- not for distribution to plan participants
[bottom right footer picture of Fidelity Investments and pyramid design logo appears]
jm03312015_Retirement MMKT Short.pdf
[PDF Page 1]
[Bold green header] What is happening with the Fidelity Retirement Money Market Portfolio in your retirement plans?
[Green Line with arrow logo appears]
Text - [arrow bullet] The U.S. Securities and Exchange Commission (SEC) significantly changed money market mutual fund regulations in 2014, with full implementation required by late-2016
Text - [arrow bullet] U.S. Treasury and government money market mutual funds will remain exempt from the structural changes in the SEC's new rule
Text - [arrow bullet] During periods of extraordinary market stress, redemptions from prime (general purpose) money market mutual funds could be temporarily halted, which could hinder normal retirement plan transactions (withdrawals, contributions, exchanges, etc.)
Text - [arrow bullet] Therefore, the board of trustees for several prime Fidelity money market mutual funds offered in retirement plans will request over the coming months that shareholders approve their conversion to government funds
Text - [indented square bullet] Shareholder approval of this policy change would enableFidelity Retirement Money Market Portfolio to operate as government money market funds
Text - [indented square bullet] By operating as government money market funds, the funds will seek to maintain a stable net asset value per share (NAV) and will not be subject to liquidity fees or redemption gates under the rules governing the operations of money market funds
[bottom left footer] 1 For plan sponsor use only -- not for distribution to plan participants
[bottom right footer picture of Fidelity Investments and pyramid design logo appears]
[PDF Page 2]
[Bold green header] New SEC rules for taxable money market funds will be fully implemented by October 2016
[Green Line with arrow logo appears]
[Table with green background]
Fund Type | Net Asset Value (NAV) | Liquidity Fee | Redemption Gate |
U.S. Treasury | Stable | No | No |
Government | Stable | No | No |
Retail Municipal/Tax-Exempt | Stable | Yes | Yes |
Retail Prime/General Purpose | Stable | Yes | Yes |
Institutional Municipal/Tax-Exempt | Floating | Yes | Yes |
Institutional Prime/General Purpose | Floating | Yes | Yes |
[Table with green background]
Money Market Reform | Final Rule | SEC Implementation Deadline |
Floating NAV | Applicable funds will transact and price at a net asset value per share that can change, or "float," based on pricing the underlying fund holdings out to four decimal places ($1.0000) | October 14, 2016 |
Liquidity Fee | If a fund's weekly liquid assets were to fall below 30%, fund's board may impose a 2% fee on redemptions
If a fund's weekly liquid assets were to fall below 10%, redemptions will be subject to a 1% fee, unless fund's board determines otherwise |
Redemption Gate | If a fund's weekly liquid assets were to fall below 30%, fund's board may suspend redemptions for up to 10 days |
Retail Fund Definition | Retail funds limit shareholders to beneficial ownership by "natural persons" (individuals)
Institutional funds are open to any shareholders, including individuals, small businesses, and corporations |
[bottom left footer] 2 For plan sponsor use only -- not for distribution to plan participants
[bottom right footer picture of Fidelity Investments and pyramid design logo appears]
[PDF Page 3]
[Bold green header] Important Information
[Green Line with arrow logo appears]
Text -FOR PLAN SPONSOR USE ONLY - NOT FOR DISTRIBUTION TO PLAN PARTICIPANTS
Text - These opinions are subject to change at any time based on market or other conditions. These materials are provided for informational purposes only and should not be used or construed as a recommendation of any security, sector, or investment strategy. Please consult your tax or financial advisor for additional information concerning your specific situation.
Text - Nothing contained herein constitutes investment, legal, tax or other advice nor is it to be relied on in making an investment or other decision. The information presented is only as current as the date indicated, and may be superseded by subsequent market events or for other reasons. Statements concerning financial market trends are based on current market conditions, which will fluctuate. The viewpoints expressed by me during the course of my presentation are not necessarily the viewpoints of others or Fidelity as an organization.
Text -Past performance is no guarantee of future results. Investment return will fluctuate, therefore you may have a gain or loss when you sell shares.
Text -An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the fund seeks to preserve the value of your investment at 1.00 per share, it is possible to lose money by investing in the fund. Interest rate increases can cause the price of money market securities to decrease.
Text - Diversification does not ensure a profit or guarantee against a loss.
Text - In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible. Foreign securities can be more volatile than U.S. markets due to increased risks of adverse issuer, political, regulatory, market or economic developments. Changes in government regulation, interest rates and economic downturns can have a significant effect on issuers in the financial services sector, including the price of their securities or their ability to meet their payment obligations. Prepayment of principal prior to a security's maturity can cause greater price volatility if interest rates change. The fund can invest in securities that may have a leveraging effect (such as derivatives and forward-settling securities) which may increase market exposure, magnify investment risks, and cause losses to be realized more quickly. Conservative Income Bond Fund is not a money market fund and will have a fluctuating NAV.
Text -Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
Text - Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917
Text - 720034.1.0
[bottom left footer] 3 For plan sponsor use only -- not for distribution to plan participants
[bottom right footer picture of Fidelity Investments and pyramid design logo appears]
IWS Flash Fidelity Proxy Mailings_v2.docx
Fidelity Flash Template for March 16, 2015
Category: Investment Products
Brief Title: Fidelity Money Market Proxy Mailing
Name: [Fidelity Rep Name]
----------------------------------------------------------------------------------
Full Article
Article: Fidelity Money Market Proxy Mailing
As communicated in the January 30, 2015 Flash Notice, Fidelity Investments announced the first set of proposed changes to their money market mutual funds, which are designed to align their product offerings to best meet investors' future cash investment needs. As a result, shareholders of several Fidelity Money Market funds (list below) will receive proxy statements that are mailing today, March 16, 2015.
Key Points:
[bullet] Fidelity proxies mailed to shareholders of record on March 16, 2015 as communicated in theJanuary 30, 2015 Flash Notice
[bullet] List of impacted funds below and accessproxy Q&A in early April, 2015
[bullet] New CUSIPs / symbols should be available
Conversion of Fidelity Prime Money Market Funds to Government Money Market Funds - - Shareholders of each applicable fund will receive a proxy statement asking for their approval of the proposed conversion of their fund from a "prime" fund to a government money market fund. Fidelity is proposing that the following funds be converted to government money market funds: Fidelity Cash Reserves, VIP Money Market Portfolio and FMMT Retirement Money Market Portfolio.
Current Fund Name | Current Symbol | Proposed New Name* | Eligible for Core Sweep | Record Date / Customer Mailing | Meeting Date | Anticipated Effective Date |
Fidelity Cash Reserves | FDRXX | Fidelity Government Cash Reserves | Yes | March 16, 2015 | May 12, 2015 | Q4 2015 |
FMMT Retirement Money Market Portfolio | FRTXX | FMMT Retirement Government Money Market II Portfolio | Position Only | March 16, 2015 | May 12, 2015 | Q4 2015 |
VIP Money Market Portfolio | FAVMM | VIP Government Money Market Portfolio | Position Only | March 16, 2015 | May 12, 2015 | Q4 2015 |
* If approved, each of the funds' symbols and CUSIPs will remain the same.
Fund Merger Proposals - Shareholders of certain funds will receive a proxy statement asking for their approval of the merger of their fund into another Fidelity money market fund. Fidelity is proposing that the following funds be merged into other acquiring funds: Select Money Market Fund, Cash Management Funds (CMF): Prime Fund, and U.S. Government Reserves.
Current Fund Name | Current Symbol | Acquiring Fund* | Eligible for Core Sweep | Record Date / Customer Mailing | Meeting Date | Anticipated Merger Date |
Select Money Market | FSLXX | Fidelity Money Market Premium Class | Position Only | March 16, 2015 | May 12, 2015 | Nov 2015 |
CMF Prime Fund: Daily Money Class** | FDAXX | Fidelity Government Money Market: Daily Money Class | Core | March 16, 2015 | May 12, 2015 | Nov 2015 |
CMF Prime Fund: Capital Reserves Class** | FPRXX | Fidelity Government Money Market: Capital Reserves | Core | March 16, 2015 | May 12, 2015 | Nov 2015 |
U.S. Government Reserves | FGRXX | Fidelity Government Money Market: Premium Class | Position Only | March 16, 2015 | May 12, 2015 | Nov 2015 |
* If approved, impact will be name change, CUSIP/symbol change, and new investment objective.
** May be held as core for small number of accounts via exception.
To help advisors navigate such changes, Fidelity Institutional Wealth Services will provide ongoing communication and support. In addition, customer applications and online account opening tools will be updated to reflect such changes. We will communicate specific timelines for such work in the coming weeks. Please contact your IWS relationship manager if you have additional questions.
For investment professional use only. Not for distribution to the public.
Clearing, custody, or other brokerage services may be provided by National Financial Services LLC, or Fidelity Brokerage Services LLC, Members NYSE, SIPC.
713723.3.0