Take that Lord Nelson.
It looks like the Boston Behemoth can handle itself in the ETF space despite entering it so late. Fidelity's
ten sector ETFs, launched in October, have garnered $1 billion in AUM, reports Barron's
and Investment News
Sector ETFs were long the territory of Vanguard
and State Street
Fido's awkwardness with ETFs changed when the Behemoth lured back Tony Rochte
from State Street in March 2012
, Fido's ETF and speciality sector investments arm.
One of Rochte's accomplishments was shepherding these sector ETFs, powered by BlackRock
The ETF territory promises more room to fight for
in the near-future.
But win some, lose some. Vanguard recently beat Fido in DC I-O
assets, albeit by a slender $1 billion.
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