Fidelity to Rename Bond Index Fund

Fidelity to Rename Bond Index Fund

This is just a quick heads up for those of you that are investing through Fidelity… I received an e-mail this morning stating that they’re renaming the Fidelity US Bond Index Fund to the Spartan US Bond Index Fund. This isn’t a huge deal, but it’s worth knowing about if you’re looking for this fund.

Here’s a snippet from the e-mail:

Effective April 28, 2011, Fidelity U.S. Bond Index Fund will change its name to Spartan U.S. Bond Index Fund, and the existing retail class of the fund will be designated as the Investor Class.

The name change will have no effect on the fund management, and the ticker symbol (FBIDX) will not be changing.

In other news, Fidelity dropped the expense ratio on the retail class of the fund from 0.32% to 0.22% back in February, making it competitive with the Vanguard Total Bond Market Index Fund, which likewise charges 0.22% for its “Investor Shares” – though Admiral Shares are available at 0.12%.

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