Fidelity makes foray into 'smart beta' space

The asset manager already offers 14 index trackers, but the latest move will see it venturing into the ETF space for the first time. The firm, which has some £224bn in assets under management, is launching two quality income smart-beta ETFs on the London Stock Exchange and Deutsche Boerse today. The funds will be named the Fidelity US Quality Income ETF and the Global Quality Income ETF and will carry an annual fund charge of 0.30% and 0.40%, respectively.  They will invest in UK and global stocks, offering exposure to high quality companies that aim to pay attractive dividends wit...