The pressure on fees, a result of money moving to low-cost passive funds, is intensifying. Closely held Fidelity Investments created two index mutual funds in August with no charge at all, then added two more this month.
While rivals have yet to follow suit, Fidelity’s gambit reinforced the view that fund companies will increasingly be forced to prove that customers are getting their money’s worth. Average fees globally fell almost 20 percent from 2013 to 2017, data from Casey Quirk show -- a trend the firm expects to continue.
This story provided by Bloomberg News.