BlackRock and Fidelity strengthened their partnership in March last year, expanding the number of commission-free iShares ETFs available to 65 from 30 and partnering on Fidelity passive ETF products. [Fidelity, BlackRock in ETF Partnership]
The two money managers play well into each other’s strengths. BlackRock has benefited from Fidelity’s strong distribution channels while Fidelity benefited from expertise on ETF products.
“We are raising our profile through our branding efforts, evolving our product set in anticipation of changing market trends and deepening our distribution relationships,” BlackRock chief executive Larry Fink, said. “BlackRock’s strategic alliance with Fidelity, which we enhanced in 2013, is another example of our commitment to buy-and-hold investors.”
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Max Chen contributed to this article.