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My understanding is that Fidelity is basically a family owned company. They could be splitting it up for tax or estate reasons to get ready to sell part of it or issues stock options on part of it without having to worry about giving up control of the parts they want to keep.

Of course if they do split it up then the extra layer of management may increase fees by 0.001%(or whatever) each year and when you are talking about managing around a trillion dollars that is not chump change when it is split up between a just a handful of people.

Greg
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