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The University introduced a new share class called Fidelity Class K Shares and a new series of Fidelity target-date retirement mutual funds called Fidelity Freedom K Funds. The Class K Shares offer the same investment strategy and risk as the current, share class, but the overall expenses will be lower. Fidelity Freedom K Funds have the same management team, investment objectives and will invest in the same underlying funds as the Fidelity Freedom Funds, but since they are designed as Fidelity's institutional target-date series of mutual funds, Fidelity Freedom K Funds have lower expense ratios than the corresponding target-date Fidelity Freedom Funds. The investment option changes will be effective as of market close on January 11, 2012.
The University introduced a new share class called Fidelity Class K Shares and a new series of Fidelity target-date retirement mutual funds called Fidelity Freedom K Funds. The Class K Shares offer the same investment strategy and risk as the current, share class, but the overall expenses will be lower.
Fidelity Freedom K Funds have the same management team, investment objectives and will invest in the same underlying funds as the Fidelity Freedom Funds, but since they are designed as Fidelity's institutional target-date series of mutual funds, Fidelity Freedom K Funds have lower expense ratios than the corresponding target-date Fidelity Freedom Funds.
Rebecca Mooreeditors@plansponsor.com
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