Fidelity’s latest move is part of an ongoing shuffle at the firm, which had $2.8 trillion of managed assets as of Aug. 31.

The company that built an empire on the prowess of its stock pickers startled the industry last year by offering several zero-fee index mutual funds and has since expanded its slate of commission-free ETFs, giving investors more options with smart beta and active products.

Abigail Johnson, the company’s chief executive officer, said in an interview with Bloomberg Markets magazine in November 2018 that offering a series of zero-fee funds and eliminating investment minimums were aimed at allowing the firm to “find other ways for people to give us a try.”

This article was provided by Bloomberg News.

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