Fidelity to charge $100 servicing fee on some ETFs The new fee will apply to a group of ETF issuers including Simplify Asset Management By Christine Idzelis April 1, 2024 3:32 pm ET Fidelity Investments is planning to charge investors a $100 servicing fee when placing buy orders on exchange-traded funds issued by nine firms. The new servicing charge — which may be imposed on ETFs issued by Simplify Asset Management, AXS Investments, Day Hagan, Sterling Capital, Cambiar, Regents Park, Rayliant, Adaptive and Running Oak — is set to take effect on June 3, according to a Bloomberg News report. A Fidelity spokesperson confirmed that the report is accurate. The new fee will apply to ETFs issued by a small group of asset managers that don’t participate in a maintenance arrangement with Fidelity, according to Bloomberg. “We remain committed to providing clients choice with an open-architecture investment platform,” the Fidelity spokesperson told MarketWatch in an email Monday. “Support fees help maintain the technology and service operations needed to ensure a secure and positive experience for investors.” Fidelity may periodically update its “Surcharge-Eligible ETF” list, which could change again before June 3, according to the Bloomberg report. At the end of March, U.S.-listed ETFs had a total $8.9 trillion of assets under management, according to a research note from Citigroup on Monday. Last month, investors poured more capital into domestic equity ETFs as the S&P 500 index SPX broke past 5,200 points, Citi Research said. ETFs managed by State Street, Vanguard and BlackRock attracted the biggest inflows last month — including the SPDR S&P 500 ETF Trust SPY, Vanguard S&P 500 ETF VOO and iShares S&P 500 Growth ETFIVW, according to the Citi note.
Seriously, aren't these 3 asset managements too big to control? They sit on the boards of every S&P500 companies. They improperly influence companies by enforcing mandates on how business should be run among other things. US bank regulator eyes scrutiny of asset manager stakes in banks https://www.reuters.com/business/fi...obe-role-asset-managers-banks-wsj-2024-04-02/ April 2 (Reuters) - A top U.S. banking regulator is considering a plan to ensure asset management giants BlackRock (BLK.N), Vanguard and State Street (STT.N), stick to their passive roles when it comes to investments in U.S. banks, a senior regulatory official said on Tuesday. Jonathan McKernan, a board member of the Federal Deposit Insurance Corp (FDIC), is championing an order that would direct FDIC staff to regularly examine large asset managers who own a stake of more than 10% in FDIC-regulated banks to ensure they are not improperly influencing their operations. Asset managers have often been criticized for exerting undue influence on the management of their portfolio companies. Lawmakers have also accused such firms of prioritizing political motives over financial objectives. BlackRock, for example, came under fire from Republicans over its use of environmental, social and governance (ESG) factors in investing.
%% AND that'swhy states like; FL, MO, TX, AR, SC, UT, WVA, LA , all those states did exits from BlackRock-woke broke. Of course SVB did not exit from woke-broke, but went broke anyway. Sorry i dont have time to list all state AGs cases \ filed lawsuits against BlackRock in related ESG......................................................