1. Zero-fee funds cast Fidelity-sized cloud over passive issuers

    There’s a Fidelity-sized cloud hanging over asset managers gathering at the marquee event for ETFs this week.

    After the $2.6 trillion Boston-based behemoth started selling mutual funds without an annual management charge last year, fees — and how to get them — have loomed over the industry. The annual “Inside ETFs” conference in Hollywood, Florida is no exception.

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    1. The industry has more or less covered most of the major market demand in passive benchmark indexing.
    2. The asset managers are hoping nobody goes first.
    3. Lowering fees has a near perfect record of working for ETFs.