Fidelity's Global ex U.S. Index Fund lowers fees, swaps managers

By Toni Weeks

San Diego, Oct. 21 - Fidelity Series Global ex U.S. Index Fund said it has decreased its management fees and changed its portfolio team, according to a 497 filing with the Securities and Exchange Commission.

Effective Sept. 1, the fund's management fee is 0.2% per year. Previously the fee was 0.25% per year.

In October, James Francis of Geode Capital Management, LLC was added as senior portfolio manager. Jeffrey Adams no longer serves as a portfolio manager of the fund.

Fidelity Management & Research Co. is the funds' manager. Geode and FMR Co., Inc. serve as sub-advisers for the funds.

Francis has been a senior portfolio manager with Geode since September and also manages other registered investment companies. In addition to managing portfolios, Francis is responsible for quantitative research and new product development.

Prior to Geode, Francis was a director and portfolio manager at Deutsche Asset Management from 2008 to 2011, a senior portfolio manager at Northern Trust Global Investments from 2005 to 2007 and a portfolio manager at State Street Global Advisors from 1987 to 2005.

Fidelity Investments is a mutual fund and financial service group based in Boston.

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