Fidelity and BlackRock Expand Ties With ETF-Built Product
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BlackRock Inc. and Fidelity Investments, two of the world’s largest asset managers, are expanding their partnership in exchange-traded funds with their first actively-managed product built using multiple ETFs.
Fidelity will begin selling the BlackRock Diversified Income Portfolio on May 1, the Boston-based firm said today in a statement. Managed by Fidelity, it will be comprised primarily of ETFs and available only to the firm’s retail brokerage clients.