T. Rowe Price
is expanding its institutional NTF distribution through a key platform.
T. Rowe Price's
Investor Class mutual funds are now available on Fidelity Investments' FundsNetwork (retail)
from June 26 and Institutional FundsNetwork
with no transaction fee from July 5.
executive vice president at Fidelity Investments, nor a spokesperson from Fidelity were immediately available for comment.
"Prior to this new agreement, T. Rowe Price was one of a handful of firms that continue to be offered on the largest brokerage and advisor platforms that do not trade NTF," Steve Larson,
T. Rowe Price's head of U.S. intermediaries - platform services, tells MFWire
. "As individual investors and RIAs continue to look for outstanding performing, low cost active management, Fidelity and T. Rowe Price recognize this as a great time to enhance our platform positioning."
T. Rowe Price's entire suite of Investor Class funds are now available on Fidelity's new iNTF platform,
which makes them NTF in their fee-based brokerage channel as well, Larson tells MFWire
Prior to this agreement, T. Rowe Price had their Advisor Class funds available NTF for RIAs on this platform, Larson says. Fidelity's retail clients and RIAs are able now able to purchase and choose from over 100 T. Rowe Price's mutual funds with no sales charge, no 12b-1 fee, and no transaction fees.
With this new availability, T. Rowe Price mutual funds are now offered on all major NTF retail brokerage and RIA custodial platforms. The firm also added
over 100 funds to Charles Schwab's OneSource
platform in April.
Additionally, Fidelity released their second quarter Funds Picks list, featuring 17 of T. Rowe Prices funds (seven equity funds and ten fixed income funds) - more than any other outside fund company, MFWire
"We are excited that investors will be able to purchase our funds' Investor Class shares on Fidelity's brokerage platforms without transaction fees," Larson states. "This agreement reinforces our longstanding commitment to making our funds available at a low cost."
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