The $25.6 billion acquisition by Fidelity will significantly lower the amount of assets Northern Trust Corp is to acquire from Deutshce’s Trust passive asset management business, according to Reuters. The funds represent about 21% of the $120 billion in total assets Northern Trust said in September it would acquire when it purchased Deutsche’s passive asset management business.
Fidelity, which expects to begin management of the funds on January 13, said it plans for the expense ratios of the funds to remain the same.
The funds to be acquired by Fidelity include:
- Spartan 500 Index Fund
- Spartan Extended Market Index Fund
- Spartan International Index Fund
- Spartan Total Market Index Fun
- Spartan US Equity Index Fund
- VIP Index 500 Portfolio
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