More than two dozen commodity-backed exchange-traded funds have won space on the shelves of Fidelity
mutual fund supermarket. The catch is the shelf space is in the U.K., not the U.S.
and BlackRock's iShares
will all be seen by British mutual fund share shoppers walking down the virtual aisles at FundsNet
starting on June 18, reports FT Adviser
The new inventory covers 50 ETFs and was first announced at the end of March, at the same time Fidelity officials revealed unbundled pricing.
How did David White
, head of FundsNetwork, explain the move?
"When we launched our unbundled pricing capability in the first quarter we committed to delivering the first range of ETF investments in the second quarter. Advisers told us that physically-backed ETFs were their preference and so we have selected four leading providers in this space, providing access to a broad range of market indices and commodities. We will look to add further ETFs over the course of the year."
Fidelity is relying on JPMorgan's execution service for trading of the ETFs.
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