To help parents meet rising college costs, Fidelity has reduced fees on all of its managed 529 college savings plans by one-third to one-half, be the plan direct or adviser-sold.

Additionally, Fidelity has announced investment product and design changes, including increased international equity allocations and the addition of new investment strategies to each plan’s age-based portfolios.

As a result of the fee cuts, the index fund fees that Fidelity sells in its direct-sold 529 plans based in New Hampshire, California, Massachusetts, Delaware and Arizona now range from 25 to 35 basis points. Actively managed fees now range from 59 basis points to 1.04%. For adviser-sold plans, fees now range from 84 basis points to 1.48%.

“In these challenging times, we understand that families need all the help they can get and are looking for greater value for their investments,” said Joe Ciccariello, vice president of college planning for Fidelity Personal and Workplace Investing. “In addition to Fidelity’s investment management expertise, customer-focused service, guidance and education, these fee cuts mean families with Fidelity-managed 529 accounts will now have their money working harder for them.”

In addition, Fidelity will be adding new funds to its current line-up of eight age-based portfolios as well as funds covering emerging markets and high yield.

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