Nick Paler talks to John Clougherty, head of retail at Fidelity Worldwide Investment, about how the firm is making a push into passives with new funds and aggressive price cuts.
It was with some surprise that UK investors greeted the news Fidelity Worldwide Investment, best known for its active fund management, was expanding its passive range at the start of this year. While the group has a few long-running tracker funds covering the UK, US, and global markets, it revealed plans to expand the range to include Europe ex UK, Japan, Pacific ex Japan, and emerging markets. The launch was accompanied by an aggressive pricing policy which kickstarted a price war in the space. The passive market is a pure price play, and Fidelity made its intention to grab market...
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