T. Rowe Price has added a host of mutual funds to Fidelity Investments' retail and institutional platform which has no transaction fee.
The funds became available on Fidelity FundsNetwork on June 26 and Institutional FundsNetwork on July 5.
The offerings consist of over 100 funds and have no sales-charge, no 12b-1 fee and no transaction fee.
Additionally, Fidelity has chosen 17 T. Rowe Price funds for its second quarter funds pick list, a high conviction select list crafted from the funds available on its platform.
The firm became eligible for the list when its funds became free of transaction fees on the retail platform, according to a T. Rowe Price spokesperson.
The list is put together through a quantitative process which primarily uses three-year sharpe ratio to determine eligible funds.
T. Rowe Price funds were also added to the Schwab One Source platform on a no transaction fee basis in April.
‘Being added to both Fidelity and Schwab platforms represents a substantial growth opportunity and significant milestone for our US intermediary business and underscores our longstanding commitment of providing investors with more investment options…,’ said a T. Rowe Price spokesperson in an emailed announcement.