CA: Fidelity cuts 529 manager fee
Fees in the direct-sold ScholarShare College Savings Plan have been lowered from 0.30% to 0.15% for the plan’s index-fund portfolios and from 0.30% to 0.20% for the plan’s actively-managed portfolios. Total annualized asset-based expenses (inclusive of underlying fee expenses) now range from 0.25% to 0.35% in the index-fund portfolios and from 0.59% to 1.04% in the actively-managed portfolios.
Management and administrative fees in the adviser-sold ScholarShare Advisor College Savings Plan have been lowered from 0.30% to 0.20%.
In addition, Fidelity has announced plans to introduce new funds into its age-based portfolios and to increase exposure to international stocks within the equity portions of those portfolios.