Fidelity Investments and BlackRock, Inc. (BLK) announced a long-term strategic partnership that provides extensive collaboration across Fidelity's distribution and asset management organizations with BlackRock and its leading ETF provider, iShares, to deliver significant value to investors across a range of ETF initiatives.
Commenting on the partnership, both companies stated that it will give millions of Fidelity customers increased and improved access to a broad selection of passive ETF solutions provided by iShares, the world's largest and most diverse ETF manufacturer.
As part of this unique manufacturing and distribution partnership with iShares, Fidelity will more than double its current successful online commission-free ETF offerings and will create new ETF portfolio strategies using iShares as components within its managed account offering.
In addition, as part of Fidelity's growing sector-based business strategy, the company has established a strategic relationship with BlackRock whereby the firm will help support Fidelity's future passive sector investment management efforts.
Both companies said they will support this strategic alliance with personnel focused on successfully delivering iShares ETFs to Fidelity customers through their respective retail and advisor networks.
For comments and feedback: editorial@rttnews.com