Bringing you live news and features since 2006 

State Street to provide servicing for Fidelity’s semi-transparent ETF suite


State Street Corporation (NYSE:STT) has been appointed ETF servicing agent for Fidelity Investments new range of semi-transparent, actively managed ETFs. Fidelity is the first asset manager to receive regulatory approval for three investment strategies, Fidelity Blue Chip Growth ETF (FBCG), Fidelity Blue Chip Value ETF (FBCV) and Fidelity New Millennium ETF (FMIL), which will be available through Fidelity’s proprietary proxy basket methodology. The structure will allow Fidelity to deliver its actively-managed investment strategies in these ETF vehicles without the daily holdings disclosure requirement of fully transparent ETFs.

“The approval of semi-transparent proxy basket ETFs opens a new avenue for active managers to offer investment strategies, while protecting its intellectual property. We are excited to be working with Fidelity on this unique offering and look forward to using our extensive experience, expertise, and innovative ETF servicing technology to support the firm with this exciting new product,” says Frank Koudelka, global ETF product specialist at State Street.

State Street will provide services including basket creation, dissemination, settlement, custody, financial reporting, fund accounting, order-taking, performance and investment analytics and transfer agency services to Fidelity’s new suite of funds.

“Fidelity is pleased to work with State Street, an innovative leader in the exchange traded fund ecosystem,” says Greg Friedman, Fidelity’s Head of ETF Management and Strategy. “Leveraging our heritage of active management, we believe that our new active equity ETFs and methodology will help asset managers offer differentiated strategies that had previously been unavailable in the ETF investment wrapper. We are also excited to offer the opportunity to license our active equity ETF technology.”

Latest News

ETF data consultant ETFGI reports that assets invested in the global ETF industry reached a new record of USD12.71 trillion..
Calastone has published an ETF white paper which examines several of the processes that take place across the lifecycle of..
Adapting product lines to fit into changing methodologies and meet shifting demand is essential to remaining relevant in the industry..
Investors urgently need greater access to diversified investment strategies aligned with the Paris Agreement on climate change if the world..

Related Articles

Taylor Krystkowiak, Themes ETFs
Themes ETFs opened its doors in December 2023, with an introductory suite of 11 ETFs – seven thematic and four...
Konrad Sippel, Solactive
At the end of March, financial index specialist, Solactive, published its 2024 annual report on future trends.  ...
Lorraine Sereyjol-Garros, BNP Paribas
Following changes to the French Monetary and Financial Code and of the French market authority AMF’s General Regulation, it is...
Ed Rosenberg, Texas Capital
Texas Capital Bank first opened its doors back in December 1998 and nowadays offers wealth-management services, as well as commercial,...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by