Fidelity plans ETF range after BlackRock product head hire

Team led by Nick King

Fidelity is to become the latest active fund manager to explore the ETF space as it prepares to launch a new product range.

According to the Financial Times, the firm has started building a team to prepare the launch of its own ETF products. A Fidelity spokesperson told the FT: "We have witnessed the strong growth of ETFs and have now started building a team to support the launch of our own ETFs." The firm has already hired Nick King as head of ETFs, who joined from his position as head of product research and innovation at BlackRock. ETF uptake has exploded over the past year, with inflows reaching $372bn in 2015, according to the paper, and $13bn has already been invested in January. Fidelity began...