MutualFundWire.com: For Their 79th ETP, the Boston Behemoth Goes Systematic
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Monday, June 9, 2025

For Their 79th ETP, the Boston Behemoth Goes Systematic


The team at $5.9-trillion-AUM*, 78-year-old fund firm with more than 77,000 employees are rolling out another liquid alts fund.

Abigail Pierrepont "Abby" Johnson
 FMR (dba Fidelity Investments)
Chair, President, CEO
Last Thursday (June 5), Roberto Croce, a portfolio manager at Fidelity Investments, and Neil Constable, head of quantitative research and investments, unveiled the launch of the Fidelity Managed Futures ETF (FFUT on the Nasdaq). Fidelity Diversifying Solutions LLC (FDS) serves as investment advisor and sponsor to the new ETF.

FFUT's inception date was last Tuesday (June 3), and it comes with an expense ratio of 80 basis points (which bakes in a 3bps fee waiver**). As of launch day, the new fund had about $25 million in AUM.

Croce serves as PM to the new ETF. FFUT is also powered by several subadvisors, including:
  • FMR Invesmtent Managment (UK) Limited (FMR UK);
  • Fidelity Management & Research (Hong Kong) Limited (FMR H.K.); and
  • Fidelity Management & Research (Japan) Limited (FMR Japan).

    • Croce describes FFUT as "designed to provide clients with an investment option that can help diversity their portfolios with an ETF wrapper."

    "Fidelity's robust quantitative research, sophisticated investment capabilities, and disciplined investment process help us provide a differentiated strategy," Croce states.

    "Our team has access to enormous amounts of data, world-class research, and top talent to help uncover new investing opportunities and build advanced systematic strategies, including Fidelity Managed Futures ETF," Constable states.

    FFUT is a non-diversified series of Fidelity Greenwood Street Trust. The new ETF's other service providers include:
  • the Bank of New York Mellon (BNY Mellon) as custodian and transfer agent;
  • Deloitte & Touche LLP as independent accounting firm;
  • Fidelity Distributors Company LLC (FDC) as distributor; and
  • Fidelity's National Financial Services LLC as securities lending agent.

    • The launch of FFUT expands Fidelity's ETF and ETP business to 79 funds in total, with a combined $111 billion in AUM***.

    *As of March 31, 2025.
    **The waiver is promised through May 31, 2026.
    ***as of April 30, 2025.


    Printed from: MFWire.com/story.asp?s=70010

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