Fidelity launches balanced ETFs

Fidelity Investments Canada ULC has launched three new ETFs.

The Fidelity Multi-Asset Innovation Fund offers investors a global balanced portfolio of equity and fixed income securities. The fund is managed Mark Schmehl, who is responsible for equities, and Jeff Moore and Michael Plage, who are responsible for fixed income.

Schmehl seeks to invest in companies that will benefit from innovative emerging technologies or business models, while Moore and Plage aim to generate income through global investment-grade bonds and higher-yielding, lower-quality fixed income securities.

Fidelity has also launched two single-ticket asset allocation ETFs, both of which are subadvised by Geode Capital Management.

The Fidelity All-in-One Balanced ETF invests primarily in other Fidelity ETFs to generate a diversified portfolio of global securities, with a 60% allocation to equities and a 40% allocation to fixed income.

The Fidelity All-in-One Growth ETF also invests in other Fidelity ETFs to create a global portfolio with an 85% allocation to equities and a 15% allocation to fixed income.

The funds began trading Tuesday on the NEO exchange.

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.