Fund management company Fidelity launched six new exchange - traded funds ( ETFs ) last year in order to capitalise on the unprecedented flow of money to cheaper , index - based products . But a sea change in the money management industry is forcing the chief executive of Fidelity Investments to alter that strategy. Where the company once resisted bulking up in ETFs , it now risks losing customers if it continues to offer this service , head of Fidelity 's asset management business , Charles Morrison said . Despite aggressive growth in the market , Fidelity has just $ 5bn of total assets under management , compared with $ 254.6bn held by outside firms that sell ETFs on the company 's behalf .
Fund management company Fidelity launched six new exchange - traded funds ( ETFs ) last 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 continues to offer this service , head of Fidelity 's asset management business , Charles Morrison said . Despite aggressive growth in the market , Fidelity has just $ 5bn of total assets under management , compared with $ 254.6bn held by outside firms that sell ETFs on the company 's behalf .