This is interesting. Fidelity, my 401(k) provider, is changing my selected Target retirement Freedom fund to a new series called Freedom K funds.
I wonder why?
Whatever it is, they've revamped the entire product line, so it must be a big deal on their end. However, according to their "detail information" article:
"Fidelity Freedom K Funds will have the same management team, investment objectives and will invest in the same underlying funds as the Fidelity Freedom FundsĀ®"
Also, they claim that the expense ratio will be roughly 0.1% or so lower than the regular Freedom series.
Another thing is that I don't think they're phasing out the Freedom series so much as they are adding this Freedom K series to 401(k)s. The regular Freedom series should still be available to retail investors.
What I want to know is, what is the purpose behind this new series? I guess I shouldn't look the gift horse in the mouth, but I just can't imagine that such a big move is purely altruistic....
So does anyone know?
Freedom K
October 21st, 2009 at 08:18 am
October 21st, 2009 at 01:53 pm 1256129625
October 21st, 2009 at 01:54 pm 1256129677