Fidelity renames its Fixed-Income Trust to Fidelity Salem Street Trust

By Toni Weeks

San Diego, Oct. 27 - Fidelity Fixed-Income Trust has been renamed Fidelity Salem Street Trust as of Oct. 14, according to a 497 filing with the Securities and Exchange Commission.

The filing also said that fees were adjusted for several of the funds within the trust.

For the Spartan Intermediate Treasury Bond Index Fund, the Spartan Long-Term Treasury Bond Index Fund and the Spartan Short-Term Treasury Bond Index Fund, FMR LLC and each fund on behalf of its Investor Class have entered into a 20 basis point expense contract, under which FMR will pay all class-level expenses of Investor Class of each fund to limit the total annual operating to 0.20%.

For the Fidelity Advantage Class, FMR and each fund have entered into a 10 bps expense contract, under which FMR will pay all class-level expenses of Fidelity Advantage Class to limit the total annual operating to 0.10%.

The previous fees for these funds amounted to a flat 0.2% of the investment for the Investor class and a flat 0.1% for the Fidelity Advantage Class.

For the Fidelity Series Global ex U.S. Index Fund, the fund previously paid FMR a monthly management fee of 0.25% of the fund's average net assets. Beginning Sept. 1, the monthly management fee dropped to 0.2%.

The investment management company is based in Boston.

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