Fidelity is seen introducing more ETFs in coming months. It currently manages one ETF: Fidelity Nasdaq Composite Index (NYSEArca: ONEQ).
Fidelity has rehired State Street’s Anthony Rochte to head up a new division dedicated to specialized sector investments. [Fidelity Hires State Street ETF Exec Rochte]
The move his led to speculation Fidelity may soon roll out ETF versions of its popular sector mutual funds, Investment News reports.
Bond giant PIMCO recently introduced an ETF clone of Total Return Fund, the world’s largest mutual fund, managed by Bill Gross. [PIMCO Total Return ETF]