Fidelity is simplifying and lowering the price on Fidelity Index mutual funds for individual investors, financial advisors and institutional investors. These changes mean that investors will see the consolidation of investments into a single share class simplifying the investment choice. Moving forward, you will see the singular share class in your Fiduciary Focus Toolkit and/or Toolkit for Advisors. The additional Fidelity share classes will no longer be available.
Below, you will find action items (if needed) for each software. Also, please read the PDF provided by Fidelity if you have additional questions on why this change was made, as well as the excel file listing affected investments located at the bottom of this article:
Fiduciary Focus Toolkit
Action to be Completed by Fi360:
- Starting with Q4 2018 Monitoring Reports (in early January), we will automatically swap the terminated share class for the remaining lowest cost share class so that you don’t need to make this change yourself.
- This applies to all client accounts which currently hold one of the terminated shared classes.
- We are waiting until January to make this change so that any remaining Q3 reports produced against 9/30/2018 data continue to use the share class that was in place at that time.
- If you wish (and if you have already produced your Q3 reports), you can swap the terminated share class out for the remaining lowest cost share class within your account holdings page.
Potential Action Needed by You:
- If you wish to update any Models, you will need to access the model, add a new time period for 11/30/2018, and swap the terminated share class out for the remaining lowest cost share class.
- If you wish to update any Lists or Proposals, you will need to access those areas and add the remaining lowest cost share class.
Toolkit for Advisors (Classic)
Action to be Completed by Fi360:
- When any time period after or equal to 11/30/2018 is created (which copies the holdings from the previous period), we will automatically swap the terminated share class for the remaining lowest cost share class so that you don’t need to make this change yourself.
- This applies to all client accounts which currently hold one of the terminated shared classes.
- This will not affect any time period before or equal to 11/30/2018.
Potential Action Needed by You:
- If you wish to update any Models, you will need to access the model, add a new time period for 11/30/2018, and swap the terminated share class out for the remaining lowest cost share class.
- If you wish to update any Lists or Proposals, you will need to access those areas and add the remaining lowest cost share class.