Fidelity Cuts Target-Date Mutual Fund Fees as Price War Spreads
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Fidelity Investments is cutting fees for a popular retirement vehicle called target-date funds as a price war among financial giants spreads across products.
The Boston-based company announced Wednesday a 14% price reduction on entry-level share classes of the Fidelity Freedom Index Funds and its institutional Index Target Date Commingled Pools. With the cuts, 21 of 22 of the firm’s index funds will have total net expenses lower than comparable Vanguard Group products, Fidelity said in a statement.