InvestmentsFeb 8 2016

Fidelity to enter ETF market

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Fidelity to enter ETF market

Fidelity International has begun preparations to enter the fast-growing exchange-traded funds market.

The fund house confirmed it had begun developing a team to build up its proposition, although further timeline and details are not yet available.

It said the move was on the back of client demand.

The move comes after Fidelity’s platform, FundsNetwork, became the first major platform to offer access to ETFs, alongside several investment trusts.

A Fidelity spokesperson said: “We have witnessed the strong growth of ETFs and the convenience that this vehicle can provide investors.

“We have now started building a team to support the launch of our own ETFs, based on client demand. Further details will be provided as we progress.”