Fidelity Investments®, one of the largest financial service providers with more than $7 trillion in total client assets, announced it will launch two additional zero expense ratio index mutual funds – Fidelity ZERO Large Cap Index Fund (FNILX) and Fidelity ZERO Extended Market Index Fund (FZIPX). The funds, which reaffirm Fidelity’s commitment to providing investors with unparalleled clarity, value and choice, will be available to individual investors with no investment minimums on Fidelity.com starting September 18, 2018.
Fidelity’s ZERO funds, the only zero expense ratio index mutual funds available directly to individual investors, now provide market exposures representative of over two-thirds of industry index assets giving investors the broader choice of market coverage they need. Since launching on August 2, 2018, Fidelity’s first two zero expense ratio funds – Fidelity ZERO Total Market Index Fund (FZROX) and Fidelity ZERO International Index Fund (FZILX) – have grown to more than $1 billion in assets1.
“Fidelity has consistently used its leadership position and scale to improve value for consumers,” said Kathleen Murphy, president of Fidelity Investments’ personal investing business. “Our ZERO fund line-up is the most recent example, bringing innovation and value to investors, and we’re pleased so many investors have taken advantage of this offering.”
In addition to the new funds, Fidelity recently announced ground-breaking changes that provide more value to investors, including zero minimums for account opening, zero investment minimums on Fidelity retail and advisor mutual funds and 529 plans2, zero account fees, zero domestic money movement fees and significantly reduced index pricing. Fidelity has a long-standing commitment to use its leadership and scale to consistently deliver enhanced value to investors. For example, as Fidelity has doubled its index mutual fund assets, the firm also systematically reduced index mutual fund pricing by nearly 50 percent to provide greater value to investors. Notably, as Fidelity passed on the benefit of its scale to investors, all of its stock and bond index funds and sector ETFs have total net expenses lower than all of Vanguard’s comparable funds3.
This is one more example of a long history of Fidelity providing customers with enhanced value based on its leadership position and scale, including providing a number of services for free or at a very low cost, such as Fidelity’s no annual fee 2 percent cash back credit card; free debit card and ATM fee reimbursement4; free check writing and bill pay; free portfolio review at any of Fidelity’s nationwide network of investor centers; free asset allocation models for diversified and income portfolios; and transparent bond pricing at $1 per contract5. New Fidelity ZERO Index Funds Consistent with Fidelity ZERO Total Market Index Fund and Fidelity ZERO International Index Fund, investors will pay a 0.00% fee for the new funds, regardless of how much they invest in either fund. Fidelity ZERO Large Cap Index Fund: The fund will seek to provide investment results that correspond to the total return of stocks of large-capitalization U.S. companies. Fidelity ZERO Extended Market Index Fund: The fund will seek to provide investment results that correspond to the total return of stocks of mid- to small-capitalization U.S. companies.
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This article provided by NewsEdge.