Fidelity Lowers Expenses for Five Funds

August 31, 2004 ( - Fidelity Investments announced Tuesday that is it lowering the expenses on five of its equity index funds available to individuals and group retirement plans.

Starting immediately, the expense ratios for Fidelity Spartan 500 Index Fund, Fidelity Spartan Total Market Index Fund, Fidelity Spartan Extended Market Index Fund, Fidelity Spartan International Index Fund, and Fidelity Spartan US Equity Index Fund will be volun capped at 0.10% – or 10 basis points. The Fidelity Spartan US Equity Index Fund is offered primarily for 401(k) and 403(k) institutional retirement plans.

As part of Tuesday’s announcement, Fidelity also standardized the required minimum investments for all of its retail equity index funds. This amount is now set at $10,000 for an initial purchase, with a minimum of $1,000 now required for subsequent purchases. The new pricing structure will result in a reduction in the initial minimum required for three of the retail equity index funds, an increase for the Spartan 500 Index Fund, and no change to the Fidelity Nasdaq Composite Index Fund.

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