Fidelity Investments has filed a proxy with the Securities and Exchange Commission to make some changes within its Advisor Series I funds. As a potential cost-saving measure, the firm is asking for the option to adopt a fund-of-funds structure in the future but has no immediate plans to do so. Other proposed changes are designed to keep the funds compliant with SEC regulations.
"FMR and the Board of Trustees continually review methods of structuring mutual funds to take advantage of potential efficiencies or other benefits," the proxy said. "While neither FMR nor the Trustees have determined that a Fund-of-Funds Structure is appropriate at this time, the Trustees believe it could be in the best interests of each fund to adopt such a structure at a future date."