Fidelity International launches US large-cap growth ETF

Fidelity International has launched the Fidelity US Fundamental Large Cap Growth UCITS ETF (ticker: FFLG), an actively managed fund targeting large-cap US growth companies. The fund is domiciled in Ireland and has begun trading on Xetra in Germany and Borsa Italiana. It is scheduled to start trading on the London Stock Exchange on September 17.

The ETF utilizes a strategy that combines bottom-up fundamental analysis from sub-adviser Fidelity Investments—a separate US-based entity—with a systematic investment process. The fund carries an ongoing charge of 0.38% and uses the Russell 1000 Growth UCITS Capped Net Tax as its benchmark.

This launch expands Fidelity International’s Fundamental Equity ETF range to three products, joining the US Fundamental Large Cap Core UCITS ETF and the US Fundamental Small-Mid Cap UCITS ETF. Neil Davies, head of ETF product and capital markets for Europe and Asia Pacific at Fidelity International, noted that active ETFs are one of the fastest-growing segments in the European investment market.