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BlackRock cuts fees on 15 ETFs

BlackRockInc. is cutting fees on 15 exchange-traded funds within its U.S.iShares business, effective Oct. 5.

The asset manager expects the use of ETFs to increasebecause of the Department of Labor's Conflict of Interest Rule that requiresfinancial advisers to work in the best interest of their clients.

BlackRock is also reducing management fees on five indexmutual funds across class K, institutional, and investor A share classes.