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Fidelity launches two more zero expense ratio funds

Fidelity Investments is due to launch two more mutual funds with a zero expense ratio.

The funds, which will be named the  Fidelity Zero Large Cap Index Fund and the Fidelity Zero Extended Market Index Fund, will launch on September 18 with no investment minimum.

Expenses charged by investments, commissions, interest charges, or other expenses for transactions may still apply

They can be purchased through the Fidelity website, and Fidelity says they are the first zero expense ratio funds that will be made directly available to consumers.

Fidelity says the two other zero fee funds its launched in August have acquired around $1bn (£770m) in assets under management so far.

Fidelity Investments’ personal investing business president Kathleen Murphy says: “Fidelity has consistently used its leadership position and scale to improve value for consumers.”

The Fidelity Zero Large Cap Index Fund will look to mirror returns from large-capitalization U.S. company stocks, while the Zero Extended Market Index fund will attempt to mirror returns from stocks of mid- to small-capitalization U.S companies.

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