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Fidelity Investments winds down $3.5 billion index fund

September 13, 2018 3:41 PM
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BOSTON (Reuters) - Fidelity Investments is winding down a fund that had more than $3 billion in assets last year, with the Boston-based money manager citing an overlap in holdings of other funds used in its target-date products to explain the rare move.

The Fidelity Series 100 Index Fund is one of about 30 funds that make up the target-date portfolios in the Fidelity Freedom Funds. It had $3.5 billion in assets late last year, but money managers at Fidelity have been winding down its assets in recent months.

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