Fidelity notifies nine ETF companies about upcoming new fees
According to a document seen by Bloomberg, Fidelity Investments will levy new fees on ETFs issued by nine companies including Simplify Asset Management Inc. and AXS Investments, in order to cover the costs of listed products. The plan will take effect on June 3rd, with investors facing a $100 service fee when placing buy orders under a range of exchange trading strategies. A customer notice stated that the new fee applies to a few companies not participating in Fidelity's maintenance arrangements. Day Hagan, Sterling Capital, Cambiar, Regents Park, Rayliant, Adaptive and Running Oak are all included in the so-called additional fee-eligible ETF list. The document states that this latter list will be updated regularly and may change before the plan takes effect. It added that the initial charge list accounts for less than 0.5% of mutual funds and ETFs available to investment advisors on Fidelity's platform.
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