To keep up with rivals in both the traditional fund and ETF sectors, Fidelity said Tuesday that it is lowering the investment minimums on 22 of its Spartan index funds and the expenses on eight Spartan index funds on Jan. 1.
"Over the past 18 months, Fidelity has aggressively enhanced its Spartan index mutual fund offering with reduced fees and new products," said J.S. Wynant, executive vice president of investment product management and research at Fidelity Investments, in a press release. "These latest moves are another example of our commitment to providing workplace retirement plan sponsors and individual investors access to a wide-array of high-quality index funds at some of the most competitive pricing in the industry."
Experts say that, like its fund-industry competitors, Fidelity had little choice but to take such measures.
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Janet Levaux
Editor-in-Chief Janet Levaux has covered the financial markets since 1991, with a focus on financial advisors since 2005. After graduating from Yale and the Johns Hopkins School of Advanced International Studies (SAIS), where she studied global economics, Janet worked as a freelance financial and business writer in Japan, and then as a reporter and editor for Investor's Business Daily and the Bay Area News Group in California. She earned an MBA in 2007 and since then has helped lead key ThinkAdvisor projects like its Neal-Award winning reporting on Ken Fisher, Luminaries awards program and Women in Wealth newsletter.
