Aug
09
Fidelity Bets on Zero-Fee Index Funds
ByIt’s a threat to high-cost money managers but can also be a way to sell other products.
Free mutual funds. It sounds fishy—something that might be advertised on a late-night infomercial. But when Fidelity Investments unveiled two index funds without annual expense charges on Aug. 1, it was the real deal. And if you’ve been watching the money management industry closely, it felt almost inevitable. Several index mutual funds and exchange-traded funds from Fidelity and others were already charging less than a dime for every $100 invested. Why not let the last pennies drop?…
Fidelity Bets on Zero-Fee Index Funds
