Mutual funds fees

Reduced fees for Fidelity Investments mutual funds

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9:50 a.m., Dec. 20, 2011--The University of Delaware is pleased to announce a reduction in management fees and expenses for several Fidelity Investment mutual funds available to participants in the 403(b) and 457(b) retirement plans. These lower fees will allow employees to keep more money in their accounts and can help individuals reach their retirement goals more effectively. 

The lower fees will become effective as of the market close (generally 4 p.m. ET) on Jan. 11, 2012, and mutual fund participants will see this activity reflected on their March 31, 2012, quarterly statements.

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The lower fees are the result of a new share class (Class K Shares) created by Fidelity Investments. No action is required by participants to effect this change, and existing mutual fund balances will be automatically reallocated from the current share class funds to the corresponding Class K Shares. The fund name, management team, investment strategy and underlying investments are the same for each share class of a particular mutual fund. However, each share class of Fidelity Investments mutual funds has a unique ticker symbol and is registered separately. Mutual fund shares will migrate to the new Class K Shares, and future contributions to the funds will be directed automatically to the new K class of the funds that were previously selected. 

Fidelity Investments will be notifying University of Delaware participants of this change and of the specific transactions on participant accounts. In addition, as noted above, mutual fund participants will see this activity reflected on their March 31, 2012, quarterly statements.

For more information on the new share class and fee reductions, please see the FAQ section of the Office of Human Resources website. Fidelity representatives are also available to meet for one-on-one consultation. Appointments can be scheduled by phone (800-642-7131) or online at http://www.fidelity.com/atwork/reservations. You may also speak with a Fidelity Representative at 800-343-0860 (24 hours a day, seven days a week). 

 

 

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