Fidelity Investments has announced a fee reduction on several index funds in order to remain competitive.
Fidelity Spartan 500 Index Fund, Fidelity Spartan U.S. Equity Index Fund, Fidelity Spartan Total Market Index Fund, and Fidelity Spartan Extended Market Index Fund will all permanently reduce their fees, the Boston fund giant said on Tuesday. It took the same action on VIP Index 500 Portfolio.
The five funds include several whose fees were voluntarily reduced and capped at 10 basis points of money invested last August, and the Spartan International Index Fund cut its fee to 20 basis points of the money invested.
In the past two years Fidelity has made third-party independent research available to customers for free and dropped front-end charges on dozens of portfolios.
