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Fidelity Drops All Fund Sales Charges

By Staff Writer

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Sept. 19, 2003 — Fidelity Investments said it will drop sales charges on all its sector funds on Monday, leaving its fund line completely free of so-called front-end loads.

The move eliminates the 3% charges on the 42 funds, which invest in selected industries and have some $18.3 billion in assets.

In June, Fidelity eliminated the sales charge on its flagship Fidelity Magellan (FMAGX), and on four other funds: Fidelity Contrafund (FCNTX), Fidelity Discovery Fund (FCONX), Fidelity Low Priced Stock (FLPSX), and Fidelity New Millennium (FMILX). The company previously eliminated the charges on nine international stock funds.