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Fidelity CEO Says No-Fee Lineup Is Aimed at New Customers

Fidelity Investments Chief Executive Officer Abigail Johnson said the firm’s decision to launch a series of no-fee mutual funds had a simple rationale: bring in new customers.

“The objective was to lower the friction and get more people to try Fidelity,” Johnson said in a brief interview. “The hope is they will like it and want to do more business with us.” She spoke Friday after an event at Fidelity’s Boston headquarters about technology in finance.