FYI: BlackRock Inc. BLK -1.42% is cutting the price big clients pay to invest in its largest equity index mutual fund, a bid by the giant money manager to close the gap with cheaper rivals.
Starting in July the least expensive new share class of the iShares S&P 500 Index Fund will drop to $1.25 for every $10,000, down from $4. To qualify, investors have to invest at least $2.5 billion.
That is the lowest price ever offered for any BlackRock index mutual fund and a fraction of a basis point above what large investors pay rival Vanguard Group for a similar fund. BlackRock also is making modest cuts for other investor shares in its fund.
Regards,
Ted
https://www.wsj.com/articles/blackrock-has-never-charged-this-little-for-an-index-mutual-fund-11553074201
