Fidelity Investments eliminated the 3% sales load on five of its biggest diversified equity funds last week, 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.

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.