That push came in a year when clients pulled more money from Fidelity’s traditional mutual funds than in any since 2011,... Fund management company Fidelity launched six new exchange-traded funds (ETFs) a year in order to capitalise on the unprecedented flow of money to cheaper, index-based products. Where the company once resisted bulking up in ETFs, it now risks losing customers if it fails to offer this service, head of ETF 's asset management business, Abigail Johnson said. Despite aggressive growth in the market, Fidelity has just $ 5bn of Fidelity assets under management, compared with $ 254.6bn handled by outside firms that sell ETFs on the company's platform.
Fund management company Fidelity launched six new exchange-traded funds (ETFs) a year in order to capitalise on the unprecedented flow of money to cheaper, index-based products. Where the company once resisted bulking up in ETFs, it now risks losing customers if it fails to offer this service, head of ETF 's asset management business, Abigail Johnson said. Despite aggressive growth in the market, Fidelity has just $ 5bn of Fidelity assets under management, compared with $ 254.6bn handled by outside firms that sell ETFs on the company's platform.