Fidelity has launched two direct and advisor sold small cap funds, called Small Cap Growth and Small Cap Value.

Both of the funds will invest at least 80 percent of their assets in relevant small capitalization equities and will be benchmarked against the relevant Russell 2000 index, according to an SEC filing.

Total operating expenses for the Small Cap Growth are 142 basis points and 124 basis points for the Small Cap Value fund.

Forrest St. Clair and Katherine Lieberman will manage the Growth and Value funds, respectively. 

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