The latest in funds and investments across North America.

Fidelity International
Fidelity Investments has launched two index mutual funds – Fidelity ZERO Large Cap Index Fund (FNILX) and Fidelity ZERO Extended Market Index Fund (FZIPX). 

Investors will pay a 0.00 per cent fee for the new funds, regardless of how much they invest in either fund.

Fidelity ZERO Large Cap Index Fund will seek to provide investment results that correspond with the total return of stocks of large-capitalization US companies.  Fidelity ZERO Extended Market Index Fund will seek to provide investment results that correspond with the total return of stocks of mid- to small-capitalization US companies.

After Fidelity announced a few weeks ago it was introducing zero-fee funds, speculation surfaced as to whether this was a ploy to hit index-fund rival Vanguard and ultimately, to steer money into Fidelity including some of its actively run, fee-charging funds. 

Asked how zero-charge funds can fit in a business that presumably wants to earn revenues, the firm told Family Wealth Report: "Fidelity earns no money from the zero expense ratio index funds, and there are no hidden costs - investors will not pay any expense ratio on these funds."