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Thursday, June 02, 2005

Fido Slashes Bond Fund Fees

by: Sean Hanna, Editor in Chief

Fidelity is taking its fee cutting to its bond funds. The Boston Behemoth sliced fees on a dozen taxable bond funds to 45 basis points Wednesday. It also cut fees on its eight Advisor fixed income funds and one variable insurance product by 10 basis points.

The no-load funds had carried fees ranging from 50 to 65 basis points before the cuts.

"This 45 basis point pricing places our retail bond fund line-up among the lowest-cost such product lines in the industry," said Jeff Carney, president of Fidelity Personal Investments.

The move follows other recent fee cuts at the firm. In May it cut the per contract fee on option trades by half.

Fidelity has also cut the fees on its index funds to match or surpass those of other fund firms.  

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