Fidelity and BlackRock announce “groundbreaking” ETF strategic alliance

Mar 13th, 2013 | By | Category: ETF and Index News

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Global investment giants Fidelity and BlackRock have announced a long-term strategic alliance that provides extensive collaboration across Fidelity’s distribution and asset management organisations with BlackRock and its iShares exchange-traded fund (ETF) platform.

Fidelity and BlackRock announce “groundbreaking” ETF strategic alliance

Kathleen A. Murphy, president of Personal Investing at Fidelity.

The partnership promises to give millions of Fidelity customers enhanced access to a broad selection of passive ETF solutions provided by iShares, the world’s largest provider of ETFs.

Kathleen A. Murphy, president of Personal Investing at Fidelity Investments, said: “Through this groundbreaking alliance between two financial services leaders, we will leverage our complementary strengths to deliver leading ETF products and research that are unmatched to more than 10 million Fidelity customers.”

As part partnership, Fidelity will more than double the line-up of commission-free ETFs offered on its platform (increasing the number of iShares ETFs available from 30 to 65) and will create new ETF portfolio strategies using iShares as components within its managed account offering.

In addition, as part of Fidelity’s growing sector-based business strategy, the company has established a strategic relationship with BlackRock whereby the firm will help support Fidelity’s future passive sector investment management efforts.

Mark Wiedman, global head of iShares at BlackRock, said: “We are thrilled to be joining with Fidelity to create an ETF manufacturing and distribution powerhouse. This long-term partnership will enable millions of investors to maximise the value of ETF investing.”

Both companies will support this strategic alliance with personnel focused on successfully delivering iShares ETFs to Fidelity customers through their respective retail and advisor networks.

The announcement comes on the back of an explosion in the popularity of ETFs. According to BlackRock, the size of the global exchange-traded products industry has now surpassed $2 trillion, while Fidelity research shows that ETF investing is poised to increase in 2013.

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