Bloomberg: Fidelity to impose new fees on nine ETF companies

Fidelity Investments will impose new fees on ETFs issued by nine companies including Simplify Asset Management Inc. and AXS Investments to meet the cost of listing the products, according to documents. Under the plan, which takes effect on June 3, investors will face a $100 service fee when placing buy orders on a range of exchange-traded strategies. Customer notices say the new fees apply to a small number of firms that do not participate in Fidelity maintenance arrangements. Day Hagan, Sterling Capital, Cambiar, Regents Park, Rayliant, Adaptive and Running Oak are among the so-called surcharge-eligible ETFs. The latter list will be updated regularly and may change before the plan takes effect, the document said. and adds that the initial list of fees represents less than 0.5% of the mutual funds and ETFs available to investment advisors on Fidelity’s platform. (Bloomberg)