BOSTON (AP) — Fidelity Investments is opening five stock mutual funds that seek to keep investor costs low by passively tracking stock indexes, rather than relying on professional managers to pick investments.
Fidelity's announcement on Monday expands its lineup of Spartan index funds to 13, including stock funds and bond funds. Those funds held more than $80 billion in assets as of Aug. 31.
The new funds will charge lower expenses than the Boston company's actively managed funds. Actively managed funds typically charge higher expenses because of the costs from having pros select investments.
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