Products September 19, 2011

Fidelity Expands Spartan Equity Index

Fidelity Investments has expanded its Spartan equity index mutual fund line-up with five low-cost funds.
Reported by

The funds include: Spartan Emerging Markets Index Fund, Spartan Global ex U.S. Index Fund, Spartan Mid Cap Index Fund, Spartan Real Estate Index Fund, and Spartan Small Cap Index Fund. Each new fund will be offered with multiple share classes at competitive prices, according to Fidelity.

Fidelity also added low-cost institutional share classes to three existing Spartan Index Funds: Spartan Total Market Index Fund, Spartan Extended Market Index Fund, and Spartan International Index Fund. This is in addition to the new institutional share classes launched in May 2011 for the Spartan 500 Index Fund and Spartan U.S. Bond Index Fund.

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Seeking to provide investment results that correspond to the performance of their respective market benchmarks, the five new equity index funds are:

  • Spartan Emerging Markets Index Fund, seeking to provide investment results that correspond to the total return of emerging stock markets, as represented by the FTSE Emerging Index
  • Spartan Global ex U.S. Index Fund, seeking to provide investment results that correspond to the total return of foreign developed and emerging stock markets, as represented by the MSCI ACWI (All Country World Index) ex USA Index
  • Spartan Mid Cap Index Fund, seeking to provide investment results that correspond to the total return of stocks of mid-capitalization U.S. companies, as represented by the Russell Midcap Index
  • Spartan Real Estate Index Fund, seeking to provide investment results that correspond to the total return of equity REITs and other real estate-related investments, as represented by the Dow Jones U.S. Select Real Estate Securities Index
  • Spartan Small Cap Index Fund, seeking to provide investment results that correspond to the total return of stocks of small capitalization U.S. companies, as represented by the Russell 2000 Index

Fidelity now offers investors and retirement plan sponsors access to 13 equity and bond Spartan index funds across the major investment categories, with total assets under management of more than $80 billion.

Deals & People September 19, 2011

Pentegra Acquires National Life Group Division

Pentegra Retirement Services is acquiring National Life Group’s qualified plan administration business.
Reported by

The National Life Group plans have been administered through National Retirement Plan Advisors (NRPA), one of the companies of National Life Group. Pentegra will administer these plans through its wholly owned subsidiary, Alliance Benefit Group Carolinas, with the transition expected to be completed by the end of the year.   

National Life Group’s qualified plan marketing team will remain part of National Life Group and will continue to work directly with agents on business development.   

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“We deeply value the relationships National Life Group has built with its clients. As an organization, we are fully committed to continuing to provide National Life Group’s agents and clients with the very best retirement programs and services,” said Robert Albanese, Pentegra President and CEO. 

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