Fidelity announced Monday it has eliminated the 3% sales load on five of its biggest diversified equity funds, including the Fidelity Magellan Fund. The four other funds that now have no sales load are the Fidelity Contrafund, the Fidelity Contrafund II, the Fidelity Low-Priced Stock and the Fidelity New Millennium funds.

With this move, all of Fidelity’s 130 diversified equity funds are now available without a sales load. Only the firm’s 41 sector and industry funds carry this charge. In February, Fidelity waived the front-end load on nine international funds and announced it would temporarily forgive the charge on the Contrafund through June 30.

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