Fidelity International is building a team of ETFs specialists in preparation for the launch of its own tracker range.
In June last year Fidelity hired Nick King as head of ETFs from BlackRock, where he was head of product research and innovation for iShares and a senior portfolio manager.
A spokesperson for Fidelity International says the group are responding to client demand for tracker funds, having already added ETFs to its FundsNetwork platform at the end of last year.
The spokesperson says: “Fidelity International constantly monitors market demand and investor preferences so that we can evolve our product range to meet the needs of our clients. We have witnessed the strong growth of ETFs and the convenience that this vehicle can provide investors.
“In response to this trend, Fidelity was the first of the three largest retail platforms in the UK to offer a range of the most popular ETF products in the market. We have now started building a team to support the launch of our own ETFs, based on client demand.”