Fidelity Investments Canada Boosts ETF Lineup
New active equity ETF and ETF series available today on Cboe Canada
TORONTO, May 25, 2023 /CNW/ - Fidelity Investments Canada ULC (Fidelity) today launched a new exchange-traded fund (ETF) and ETF series, offering financial advisors and investors access to some of Fidelity's active management strategies in a flexible ETF structure.
The following new Active ETF and ETF series, expected to be listed today on Cboe Canada (formerly NEO Exchange) as of 9:30 a.m. (ET), will be available to investors through financial advisors and online brokerages:
- Fidelity Global Innovators® ETF (FINN/FINN.U (U.S. dollar version))
- Fidelity Canadian Large Cap Fund – ETF Series (FCLC)
- Fidelity Greater Canada Fund – ETF Series (FCGC)
- Fidelity Global Small Cap Opportunities Fund – ETF Series (FCGS/FCGS.U (U.S. dollar version))
Through the funds they manage, Fidelity portfolio managers Mark Schmehl, Dan Dupont and Hugo Lavallée are collectively responsible for $43.3B in assets under management (as at April 30, 2023). With over 72 years in combined industry experience including as analysts covering a wide range of sectors and as portfolio managers with unique investment philosophies, Hugo, Dan and Mark have steadily aimed to earn the trust of financial advisors and investors over many market cycles by delivering long term performance and helping them meet their goals (see chart and disclosure).
Fidelity Canadian Large Cap Fund - Growth of $10,000 since inception, Series F
*Unlike traditional mutual fund series, exchange-traded series (ETF series) are traded on stock exchanges. In the event of a disruption or a halt in trading of the ETF series on a stock exchange or marketplace on which the ETF series of a fund are traded, the trading price of the ETF series may be affected. As a result, the disruption or halting of such trading may cause a performance variance between the ETF series and the traditional mutual fund series because the ETF series may trade in the market at a premium or discount to the net asset value (NAV) per unit. There can be no assurance that the ETF series trading price will behave similar to the NAV per unit. The trading price of the ETF series will fluctuate in accordance with changes in a fund's NAV, as well as market supply and demand on the exchange or marketplace on which the ETF series are traded. As such, the performance between the ETF series and the traditional mutual fund series of a fund may vary. In addition, there are other factors that could lead to performance variances between the ETF series and the traditional mutual fund series, such as, for example, brokerage commissions and HST. |
Source: Fidelity Investments Canada ULC. The benchmark is 70% S&P/TSX 60 Capped Index and 30% S&P 500 Index. *Returns from October 10, 2000 (inception date of Fidelity Canadian Large Cap Fund) to April 30, 2023 and are for Series F, net-of-fees. The growth chart shown is used to illustrate the effects of the compound growth rate and is not intended to reflect future values of the fund or returns on investment in any fund. Series F is available only to investors who are eligible to buy this series. Your advisor is: (i) responsible for deciding whether or not you are eligible to buy and continue to hold this series; and (ii) required to sign a series F dealer agreement with Fidelity Investments. Your dealer may charge other fees. Other series' performance will vary largely due to fees and expenses. Returns are in Canadian dollars. Past performance is no guarantee of future results. |
"Active management is in our DNA. Since Fidelity's founding, professional portfolio management backed by world class fundamental research has been the bedrock of our value proposition to the marketplace and the way we help financial advisors and investors Stay Ahead," said Kelly Creelman, Senior Vice President, Products and Marketing, Fidelity. "Fidelity is excited to leverage and expand this expertise into the ETF space, to support financial advisors and investors looking for products that combine the flexibility of an ETF structure with the strong long-term performance potential of active management."
Fidelity Greater Canada Fund - Growth of $10,000 since inception, Series F
**Unlike traditional mutual fund series, exchange-traded series (ETF series) are traded on stock exchanges. In the event of a disruption or a halt in trading of the ETF series on a stock exchange or marketplace on which the ETF series of a fund are traded, the trading price of the ETF series may be affected. As a result, the disruption or halting of such trading may cause a performance variance between the ETF series and the traditional mutual fund series because the ETF series may trade in the market at a premium or discount to the net asset value (NAV) per unit. There can be no assurance that the ETF series trading price will behave similar to the NAV per unit. The trading price of the ETF series will fluctuate in accordance with changes in a fund's NAV, as well as market supply and demand on the exchange or marketplace on which the ETF series are traded. As such, the performance between the ETF series and the traditional mutual fund series of a fund may vary. In addition, there are other factors that could lead to performance variances between the ETF series and the traditional mutual fund series, such as, for example, brokerage commissions and HST. |
Source: Fidelity Investments Canada ULC. The benchmark is 70% S&P/TSX Capped Composite Index and 30% S&P 500 Index. *Returns from January 7, 2008 (inception date of Fidelity Greater Canada Fund) to April 30, 2023 and are for Series F, net-of-fees. The growth chart shown is used to illustrate the effects of the compound growth rate and is not intended to reflect future values of the fund or returns on investment in any fund. Series F is available only to investors who are eligible to buy this series. Your advisor is: (i) responsible for deciding whether or not you are eligible to buy and continue to hold this series; and (ii) required to sign a series F dealer agreement with Fidelity Investments. Your dealer may charge other fees. Other series' performance will vary largely due to fees and expenses. Returns are in Canadian dollars. Past performance is no guarantee of future results |
As a series of the underlying mutual funds which have proven track records and which leverage Fidelity's global research resources in bottom-up fundamental research, these Active ETF series will offer Canadian financial advisors and investors access to the professional active management of experienced portfolio managers like Dan, Mark and Hugo and emerging portfolio managers Connor Gordon and Chris Maludzinski.
Fidelity's suite of ETFs also includes Fidelity All-in-One ETFs (FBAL, FCNS, FEQT, FGRO).
Mark Schmehl
Mark Schmehl has over 20 years of industry experience and joined Fidelity in 1999. He earned a BBA from Wilfrid Laurier University, an MBA from Columbia University and is a Chartered Financial Analyst (CFA) charterholder. Currently, he manages Fidelity Canadian Growth Company Fund, Fidelity Special Situations Fund and Fidelity Global Innovators® Class.
Find out how Mark is approaching 2023 markets with cautious optimism
Dan Dupont
Dan Dupont manages Fidelity Canadian Large Cap Fund, Fidelity Global Value Long/Short Fund, Fidelity Concentrated Value Private Pool and, alongside Joel Tillinghast and Kyle Weaver, Fidelity NorthStar® Fund and Fidelity NorthStar® Balanced Fund. He also manages equity subportfolios of Fidelity Monthly Income Fund and Fidelity Income Allocation Fund.
Dan earned a joint Honours BCom in economics and finance from McGill University and joined Fidelity in 2001 as a research analyst. Coverage of the Canadian gold industry was added to his responsibilities in 2003, as well as management of Fidelity Select Gold Portfolio, offered to U.S. investors. In 2005, he assumed coverage of Canadian banks and held that responsibility until 2008. In 2007, Daniel became an assistant portfolio manager.
Listen to Dan's take on identifying opportunities in volatile periods
Hugo Lavallée
Hugo Lavallée manages Fidelity Climate Leadership Fund™, Fidelity Canadian Opportunities Fund, Fidelity Greater Canada Fund and the equity sub-portfolio of Fidelity Canadian Asset Allocation Fund. Hugo graduated with first-class honours from the McGill commerce program in 2002, specializing in economics and finance, and joined Fidelity the same year as a research analyst.
Learn all about Hugo's contrarian investing style
Connor Gordon
Connor Gordon is a portfolio manager and currently manages Fidelity Global Small Cap Opportunities Fund and Fidelity Global Small Cap Opportunities Institutional Trust. Connor holds a Bachelor of Arts degree in Economics and Finance from Wilfrid Laurier University and joined Fidelity in 2009 as a research analyst on its Canadian equity research team. Mr. Gordon also managed the corresponding components of the Fidelity Canadian Disciplined Equity Fund. From 2013 to 2019 he was a generalist analyst with research responsibilities across all sectors and geographies with a focus on small- and mid-cap securities.
Hear Connor and Chris discuss the benefits of global small-cap equity exposure
Chris Maludzinski
Chris Maludzinski currently manages Fidelity Global Small Cap Opportunities Fund and Fidelity Global Small Cap Opportunities Institutional Trust. Chris earned a Bachelor of Commerce degree in Finance from the University of British Columbia (UBC) and joined Fidelity in 2008 as a research analyst on its Canadian equity research team. Most recently he managed the real estate and insurance components of the Fidelity Canadian Disciplined Equity® Fund.
At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals.
As a privately-owned company, our people and world class resources are committed to doing what is right for investors and their long-term success. Our clients have entrusted us with $202 billion in assets under management (as at May 16, 2023) and they include individuals, financial advisors, pension plans, endowments, foundations and more.
We are proud to provide investors a full range of domestic, international and global equity and income-oriented mutual funds, ETFs, asset allocation strategies, managed portfolios, sustainable investing products, alternative mutual funds and a high net worth program. Fidelity Funds are available through a number of advice-based distribution channels including financial planners, investment dealers, banks and insurance companies.
Commissions, trailing commissions, management fees, brokerage fees and expenses may be associated with investments in mutual funds and ETFs. Please read the mutual fund or ETF's prospectus, which contains detailed investment information, before investing. Mutual funds and ETFs are not guaranteed. Their values change frequently, and investors may experience a gain or a loss. Past performance may not be repeated.
An ETF is an investment fund that is traded on a stock exchange like individual stocks. ETF series is a class of securities offered by a conventional mutual fund that is distributed pursuant to a simplified prospectus and ETF Facts. However, unlike traditional mutual fund series, the ETF series are listed on a stock exchange like an ETF. Traditional mutual funds series are bought and sold through registered dealers. The ETF series may generally only be subscribed for or purchased directly from the mutual fund by authorized dealers or designated brokers. Investors will be able to buy or sell ETF series on a stock exchange or marketplace through registered brokers and dealers in the province or territory where the investor resides.
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SOURCE Fidelity Investments Canada ULC
Chris Pepper, Vice-President, Corporate Affairs, Fidelity Investments Canada ULC, T: (416) 307-5388, M: (416) 795-7762, E: [email protected]
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