Fidelity has launched a range of exchange traded funds.
Its new Fundamental Equity ETF range is an expansion of its ETF offering in Europe.
It launched with two new products, the Fidelity US Fundamental Large Cap Core UCITS ETF and Fidelity US Fundamental Small-Mid Cap UCITS ETF.
“In Europe, the initial wave of active ETFs took the form of benchmark-aware enhanced strategies, but investors are now looking to complement that with higher-conviction strategies,” said Neil Davies, head of ETF product and capital markets for Europe and Asia Pacific at Fidelity International.
“This launch seeks to meet this demand by leveraging proprietary Fidelity Investments’ research through an ETF wrapper.
“We believe higher-conviction ETFs have the potential to drive the next phase of growth in the European ETF market.”
The small-mid cap ETF is designed to seek long-term growth, primarily investing in securities with small to medium market capitalisations.
While the large cap ETF seeks long-term growth of capital, primarily investing in equity securities of US companies with large market capitalisation.
This ETF is not constrained by any particular investment style and discloses full holdings daily.
Davies added: “Since launching our ETF platform in 2017, Fidelity International has become the second-largest active ETF provider in Europe by AUM.
“We continue to look for opportunities to grow and innovate our product suite by adding strategies that help meet the evolving needs of investors.”
Both ETFs are due to be listed on the London Stock Exchange tomorrow (September 4).
tara.o’connor@ft.com
What’s your view?
Have your say in the comments section below or email us: ftadviser.newsdesk@ft.com