Fidelity is seeking to increase the management fees of its oldest mutual fund, MutualFundWire reports. The $6.1 billion Fidelity Fund, which was launched on April 30, 1930, currently charges shareholders about 61 basis points all-told, including about 35 basis points for management. As per the new proposal, the base management fee will be increased to 56 basis points. Fidelity will also add or subtract a performance-based fee, up to 21 basis points in either direction based on the fund’s over or under performance compared to the S&P 500.

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