Fidelity notifies nine ETF firms of upcoming new fees
According to a document seen by Bloomberg, Fidelity Investments will impose new fees on ETFs issued by nine companies including Simplify Asset Management Inc. and AXS Investments to cover the costs of listing the products. The plan, which will take effect on June 3, will see investors face a $100 service fee when placing buy orders for a range of exchange-traded strategies. The customer notice said the new fees apply to a small number of companies that do not participate in Fidelity's maintenance arrangement.
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 said the latter list will be regularly updated and may change before the plan takes effect. It added that the initial fee list accounts for less than 0.5% of the mutual funds and ETFs available to Fidelity platform investment advisers.
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