Fidelity Investments said on Tuesday that it lowered the expenses on five of its equity index funds offered primarily to individual and group retirement plans, capping the ratios at 10 basis points.

The firm said the move was part of an ongoing effort over the last year and a half to cut expenses. "As of today, Fidelity now offers individual investors five diversified equity index funds that are among the lowest cost in the market," said Jeff Carney, president of Fidelity’s personal investments unit. "It is the latest move in an aggressive effort over the past 18 months to scale back fees, expenses and commissions on a number of our products in order to ensure that we are positioning ourselves at the head of the pack in a very competitive marketplace."

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.