Fidelity [see profile]
a major expansion of its Spartan
equity index mutual fund business. Today the Boston-based fund giant release five new Spartan funds and institutional shares for three other Spartan funds.
The new funds are: the Spartan Emerging Markets Index Fund
(with Investor shares for 33 basis points, Fidelity Advantage shares for 22 bps, institutional shares for 15 bps and Advantage institutional shares for 12 bps); the Spartan Global ex U.S. Index Fund
(with Investor shares for 24 bps, Advantage for 18 bps, institutional for 13 bps and Advantage institutional shares for 10 bps); the Spartan Mid Cap Index Fund
(with Investor shares for 26 bps, Advantage for 12 bps, institutional for 8 bps and Advantage institutional for 6 bps); the Spartan Real Estate Index Fund
(with Investor shares for 26 bps, Advantage for 12 bps and institutional for 8 bps); and the Spartan Small Cap Index Fund
(with Investor shares for 31 bps, Advantage for 17 bps, institutional for 13 bps, and Advantage institutional for 11 bps).
The old funds with added institutional shares are the Spartan Total Market Index Fund
, the Spartan Extended Market Index Fund
and the Spartan International Index Fund
"We're broadening our index fund line-up and adding to the lists of products we can offer investors, the financial advisors they may work with as well as our retirement plan clients and their participants," stated John McNichols
, senior vice president of investment product management at Fidelity.
The Spartan lineup now boasts 13 equity and fixed income funds with more than $80 billion in combined assets.
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