State Street 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, Fidelity Blue Chip Value ETF, and Fidelity New Millennium ETF, 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.
State Street will provide services including basket creation, dissemination, settlement, custody, financial reporting, fund accounting, order-taking, performance and investment analytics, and transfer agency.