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The subject line of the email you send will be "Fidelity. Since fees associated with buying and owning mutual funds may impact your investment, it's important that you fully understand all fees before investing.
Below is a description of fees you may pay when buying and selling different types of funds through Fidelity. You should also read a fund's prospectus for a full description of fees charged by each fund.
The different fees that apply to each type of fund are detailed below. For specific details on a given fund's loads, management, and administrative fees see "charged by the fund" belowplease refer to that fund's most current prospectus.
As shown in the table below, we have categorized the fees associated with mutual funds on the FundsNetwork program into four categories: Transaction short term trading fee mutual funds TF funds: A transaction fee is similar to a brokerage fee or commission which you pay when you buy or sell a stock.
For some funds available through Fidelity, you are required to pay a transaction short term trading fee mutual funds. These are called TF funds. However, you will not pay a sales load on TF funds. You will only be charged a transaction fee when you buy a FundsNetwork TF fund, not when you sell one. All other fees and expenses described in a fund's prospectus still apply. You can choose to buy or sell short term trading fee mutual funds directly from the fund itself or its principal underwriter or distributor without paying a transaction fee to Fidelity.
Fidelity charges a short-term trading fee each time you sell or exchange shares of a FundsNetwork NTF fund held less than 60 days. Short term trading fee mutual funds fee does not apply to Fidelity funds, money market funds, FundsNetwork Transaction Fee funds, FundsNetwork load funds, funds redeemed through the Personal Withdrawal Service, or shares purchased through dividend reinvestment.
In addition, Fidelity reserves the short term trading fee mutual funds to exempt other funds from this fee, such as funds designed to achieve their stated objective on a short-term basis. Keep in mind that the short-term trading fee charged by Fidelity on FundsNetwork NTF funds is different and separate from a short-term redemption fee assessed by the fund itself.
Not all funds have short-term redemption fees, short term trading fee mutual funds please review the fund's prospectus to learn more about a potential short-term redemption fee charged by a particular fund. Every mutual fund has short term trading fee mutual funds expenses; they are not unique to FundsNetwork funds. When you buy a fund, you may receive price breaks. These may be dependent on several factors, including the class of short term trading fee mutual funds you buy and the amount you invest.
A single mutual fund with one portfolio may offer more than one "class" of shares to investors. Each class represents the same interest in the mutual fund's portfolio, short term trading fee mutual funds may charge different fees and expenses. These shares typically charge a front-end sales charge or "load" that is deducted from your initial investment and may include a 12b-1 fee that is generally lower than other share classes.
Certain A shares may be offered by prospectus as load-waived and participate in the NTF program. These shares do not impose a front-end sales charge, but do impose a 12b-1 fee that may be higher than those that you would incur if you purchased Class A shares. Class B shares also normally impose a contingent deferred sales charge CDSCwhich you pay if you sell your shares within a certain time period.
Most Class B shares "convert" into Class A shares with lower expenses after a certain number of years. Some Class B shares may have a maximum investment amount. These shares typically do not charge a front-end sales charge and generally impose a lower CDSC than Class B shares, e.
Like Class B shares, Class C shares typically impose higher annual fund operating expenses than Class A shares, due primarily to higher 12b-1 fees. But unlike Class B shares, they typically do not convert to Class A shares and instead continue to charge higher annual expenses—including 12b-1 fees—for as long as the shares are held. Some Class C shares may have a maximum investment amount. Class A shares offer discounts that reduce the front-end sales charge you pay.
The amount of the discount is based on the size of your purchase and the overall size of your investment in the fund or fund family, with the discount increasing as the size of your investment increases. The investment levels at which the discounts become available are called "breakpoints. You can get information about the breakpoint discounts offered by a mutual fund you own by reviewing the fund's prospectus or Statement of Additional Information, checking a mutual fund company's website, or by contacting a Fidelity representative at You may be entitled to a breakpoint discount based on a single mutual fund transaction if the dollar value of the transaction exceeds one or more breakpoints.
You may be able to count future purchases toward a breakpoint discount if you write a letter of intent LOIindicating you will invest an amount over a breakpoint level within a given period of time specified by the fund. Many fund companies permit you to include purchases completed within 90 days before the LOI is signed and within 13 months after the LOI is signed. A fund may offer rights of accumulation ROA that allow you to earn a breakpoint discount on your current mutual fund purchases by combining your current fund purchases with previous purchases that you made in the same mutual fund or other funds within the fund family in the following accounts:.
The aforementioned is only a general description of share classes. Other share classes exist that are not discussed above. Before investing, be sure to review a fund's prospectus for specific features and fees associated with any particular share class you're considering. A mutual fund's sales load also known as a sales charge is a fee charged on the purchase or sale of fund shares.
The fee is charged as a percentage of the fund's offering price price to buy shares. For higher investment amounts, some funds offer sales load breakpoints. See Share Classes section above for more information.
Certain load funds may be offered as load-waived through provisions in their prospectus. A mutual fund that does not charge front-end or deferred sales loads is called a "no-load fund. With load funds, you may be charged a sales load by the fund, a portion of which is paid to Fidelity. You do not pay a transaction fee to Fidelity. Loads are described in the fund's prospectus. For details on specific mutual fund fees and expenses, including sales loads, please refer to the fund's prospectus.
Front-end load initial sales charge: The front-end load or initial sales charge is a fee charged at the time of purchase and is deducted from your investment in the fund. Back-end load contingent deferred sales charge: A back-end load or contingent deferred sales charge is an alternative to the traditional front-end sales charge in that it is only deducted when you sell your shares in the fund. Many back-end load structures are progressive, meaning that you might pay a 5.
These loads are normally applied to the lesser of original share price or current market value. The total 12b-1 fee is usually higher for share classes with back-end loads than share classes with front-end loads. Funds with back-end loads commonly Class B may convert to Class A shares after a certain period of time, such as 8 years from the original purchase date of the shares. Funds with short term trading fee mutual funds loads typically do not convert to another share class after a certain period of time.
All fees and expenses described in a fund's prospectus apply. Fidelity will charge a short term trading fee each time you sell or exchange shares of FundsNetwork No Transaction Fee NTF funds held less than 60 days short-term trade. When you sell those shares, any applicable fees will be assessed based on the status assigned to the shares at the time of purchase.
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