Fidelity Investments plans to increase its presence in the municipal-bond market, firm executives said in an interview, Investment news reports.
Fidelity wants to increase the number of negotiated deals, either as underwriters and managers or co-managers of municipal bonds. Boston-based Fidelity participated in 420 deals last year, a 25% increase from the 330 deals in 2007, the firm said. In addition, tax-exempt investments become more appealing in an environment where higher taxes are expected. And fixed-income trades have been on the rise since the market meltdown.
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D.C.