Fidelity Investments has dropped the management fee on its Freedom family of mutual funds, date-targeted retirement funds which allocate investments in other Fidelity funds. The firm has dropped the 0.08% charge on the 10 funds, MarketWatch reports.

"That isn't much, but given that Fidelity is already collecting fees on the underlying funds, and the fact that its two largest no-load competitors are doing fine without the fee, it's tough to justify," Kunal Kapoor, director of research at Morningstar, wrote in recent commentary.

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