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Tuesday, December 11, 2012 Fido Cuts Spartan Fund Fees and Minimums Ned Johnson and his team are making Fidelity's [profile] index mutual fund lineup cheaper and more accessible. Today JS Wynant, executive vice president of investment product management and research at the Boston Behemoth, revealed expense ratio cuts for some share classes of eight of Fidelity's Spartan index funds and investor minimum reductions for retail and retirement plan share classes of all 14 of the Spartan funds, effective January 1. Fidelity will lower minimums for eight non-Spartan index funds, too. "Over the part 18 months, Fidelity has aggressively enhanced its Spartan index mutual fund offering with reduced fees and new products," Wynant stated, describing the changes as part of Fidelity's "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." The minimum investment required for the 22 index mutual funds' Investor Class shares will drop to $2,500, from $10,000. For the Fidelity Advantage Class shares, minimums will drop to $10,000, from $100,000. And Fidelity will automatically convert qualifying Investor Class shares (i.e., for investors who now meet the lowered minimums for Fidelity Advantage) into Fidelity Advantage Class shares. On the fee side, Fidelity will cut net expense ratios by one to eight basis points for one to four share classes for eight of the Spartan funds:
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