Fidelity Doubles Down on Free Fund Strategy

By Anonymous

Investment firms are dueling for increasingly cost-sensitive clients

Fidelity Investments is preparing to double its number of free index funds, raising the stakes in its push to lure new clients from rivals like Vanguard Group.

The giant money manager expects to launch the Zero Large Cap Index Fund and Zero Extended Market Index Fund in late September, it said in a Wednesday regulatory filing. Neither will charge management fees. It introduced its first two zero-fee index funds in August.