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
Janet Levaux, MA/MBA, is Editor in Chief of ThinkAdvisor & Investment Advisor. She's covered the financial markets since 1991 and advisors since 2005. Janet studied at Yale, Johns Hopkins SAIS and St. Mary's College of California. She's also lived and worked in Asia, Europe and Latin America, raised two sons, and won a Neal Award for top news coverage in 2020.
