Fidelity Investments, in an effort to increase giving, said yesterday that it was planning to cut the admin fees it charges in its Charitable Gift Fund by at least 40% .  The move which goes into effect July 1st., will bring the admin fees on accounts of less than $500,000 to 0.6%  from 1%.

Fidelity has billions of dollars in the Fund and under a new Federal law , should see that investors pay out at lest 5% of assets per year.

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