Fidelity Investments, a provider of low-cost active and index investment products, is lowering fees on 14 of its 20 stock and bond mutual funds as of Tuesday, Fidelity announced Monday.

The average expenses across Fidelity’s stock and bond index fund line-up will decrease to 9.9 basis points, down from 11 basis points. The expense reductions are expected to save current shareholders approximately $18 million annually, Fidelity said.

Fidelity Investments has $6.2 trillion in assets under administration, including managed assets of $2.3 trillion, as of June 30.