Fidelity Hereford Street Trust – Fidelity Money Market Fund (NASDAQ: FZDXX) is an open‐end money market fund managed by Fidelity Investments. As part of the Hereford Street Trust series, the fund seeks to provide investors with a high degree of income while maintaining liquidity and capital preservation. It primarily invests in high‐quality, short‐term debt securities, including U.S. Treasury bills, repurchase agreements, commercial paper and certificates of deposit issued by domestic and foreign financial institutions.
The fund’s strategy centers on preserving a stable net asset value (NAV) of $1.00 per share, making it a common cash-management vehicle for both individual and institutional investors. Its portfolio managers continually monitor interest rate trends, credit quality and counterparty risk to help ensure that the fund’s holdings meet Fidelity’s rigorous credit standards. The fund typically maintains an average portfolio maturity of less than 60 days to reduce exposure to interest rate fluctuations.
FZDXX offers features designed to enhance liquidity, including same‐day settlement and check‐writing privileges for eligible account types. Investors can also access their holdings through Fidelity’s online platform and mobile app, which provide real‐time transaction capabilities and automated sweep services for brokerage and retirement accounts.
The fund operates under a trust structure established by Fidelity in the United States, drawing on Fidelity Investments’ heritage dating back to 1946. As part of one of the world’s largest asset managers, the fund benefits from Fidelity’s global research, trading infrastructure and compliance framework. This affiliation supports the fund’s objective of offering a reliable and convenient cash‐management solution for a diverse client base.
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