Fidelity Investments has filed to launch actively managed exchange traded funds and its first ETF offering in the series would be a corporate bond fund.
Fidelity only has one ETF currently, Fidelity Nasdaq Composite Index (NasdaqGM: ONEQ), but the firm was expected to expand its lineup following the hire of State Street (NYSE: STT) veteran Tony Rochte.
In September, a report surfaced that Fidelity was launching a new ETF business based in Denver headed by Rochte. [Fidelity’s New ETF Division]
According to a Dec. 7 filing, Fidelity currently plans to name the initial fund the Fidelity Corporate Bond ETF. The firm is planning to launch additional active fixed-income and equity ETFs.
Fidelity “wants approval for a series of exchange traded funds that would be eligible to invest in stocks, bonds or other assets, including mutual funds or ETFs,” Bloomberg News reports. “Fidelity could yet become the first major mutual-fund firm to introduce ETFs run by active stock pickers.”