Fidelity Investments

The firm’s decision to launch a series of no-fee mutual funds had a simple rationale

The firm gathered nearly $1 billion since creating the industry’s first free index mutual funds in early August.

The Fidelity Zero Total Market Index Fund attracted $753.5 million through Aug. 31, while the Fidelity Zero International Index Fund gathered $234.2 million, according to Fidelity’s website.

To fill the gap, they are looking at the existing debt market with fresh eyes, tapping into potentially overlooked asset classes.

That’s the sum companies are expected to bring onshore due to the Trump administration’s tax overhaul.

Despite the increase, the figure still represents a small percentage of the 16.1 million accounts that the company manages.

These expense ratios were closer to the average fund fee in 1996.

Fee wars are great for clients, but don’t judge a fund solely on its expense ratio.

Asset managers are under pressure to maximize distribution efforts amid tightening regulations and tech innovations.

Many sectors have rallied the past decade, but tech and health care outperformed.