Fidelity Cuts Expenses on Five Equity Index Funds

Sept. 1, 2004 — Fidelity Investments slashed the expenses on five of its equity index funds available to individual and group-retirement plan investors.

Effective August 31, the expense ratios for Fidelity Spartan 500 Index (FSMKX), Fidelity Spartan Total Market Index (FSTMX), Fidelity Spartan Extended Market Index (FSEMX), Fidelity Spartan International Index (FSIIX) and Fidelity Spartan US Equity Index (FUSEX) will be indefinitely capped at 0.10%. The annual expenses on these funds formerly ranged from 0.47% to 0.19%

Fidelity noted the reductions make these portfolios “among the lowest-cost equity index funds in the mutual fund industry.”