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Fidelity to Join Mutual Fund-to-ETF Club With $430 Million Flip

  • Firm plans to convert six mutual funds into active ETFs
  • Mutual fund conversion has been a trend but first for Fidelity

Fidelity Investments, one of the country’s largest asset managers, is making its first foray into converting some of its mutual funds into ETFs.

The Boston-based firm on Wednesday revealed plans to convert six of its thematic mutual funds into actively-managed exchange-traded funds. Fidelity expects to complete the conversion in June 2023.