Fidelity Investments launched three low-cost Treasury bond index funds today, increasing the number of index funds it offers to 12, said spokeswoman Sophie Launay. The new funds are the Spartan Short-Term Treasury Bond Index Fund, which will aim to maintain a dollar-weighted average maturity of less than three years; the Spartan Intermediate Treasury Bond Index Fund, targeting an average maturity of three to 10 years; and the Spartan Long-Term Treasury Bond Index Fund, with an average maturity of 10 years or more. Portfolio manager William Irving will oversee the three funds.
Customers who invest a minimum of $100,000 in any of those funds will be eligible to invest in Fidelity Advantage Class shares, with a fee capped at 10 basis points. The fee for customers who invest less than $100,000 is 20 basis points.
