Fidelity Investments Canada Launches New Fidelity Total Metaverse Index ETF/ETF Fund

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Fidelity Investments Canada Launches New Fidelity Total Metaverse Index ETF/ETF Fund

Canada NewsWire

Fund Aims to Offer Investors New, Innovative Way to Grow Wealth

TORONTO, May 18, 2022 /CNW/ - Fidelity Investments Canada ULC, one of Canada's leading investment firms, today launched Fidelity Total Metaverse Index ETF (the "ETF") and Fidelity Total Metaverse Index ETF Fund (the "ETF Fund").

"At Fidelity, we are proud to offer financial advisors and investors innovative investment strategies that aim to grow their wealth over the long-term, and the metaverse is yet another prime example," said Kelly Creelman, Senior Vice President, Products and Marketing, Fidelity Investments Canada ULC. "Leveraging Fidelity's trusted investment expertise, vast global network and research capabilities, Fidelity Total Metaverse Index ETF will expand Fidelity's thematic investing line up and offer investors access to companies that may revolutionize the digital world."

The metaverse is a topic that has gained increasing mindshare in recent years. In late 2021, metaverse-focused investment products began to enter the Canadian retail market. Like Web 2.0 or smartphones did over the past two decades, the metaverse may radically evolve our digital experiences, from entertainment and shopping to virtual business meetings. The potential market opportunity is estimated at over $1 trillion in yearly revenues[1], and many companies are increasingly engaging in this space.  

The metaverse is a term used to describe a potential future state of the Internet characterized by a network of augmented reality and virtual worlds that can be experienced persistently and in a shared environment by large numbers of users. The metaverse allows people to engage in various online experiences in a more immersive way, using devices such as virtual reality (VR) and/or augmented reality (AR) headsets.

Given that the metaverse may be the next iteration of virtual experience and therefore has the potential to play a key role in many aspects of our lives, it may represent a significant investment opportunity. Development in areas such as computing power, digital infrastructure, extended reality technologies including VR and AR headsets, and digital payment processing may be critical in paving the way going forward.

The Fidelity Total Metaverse Index ETF and ETF Fund will provide financial advisors and investors exposure to companies that are expected to drive the construction of the experiences, capabilities, and economy of the metaverse, in one convenient product.

The Fidelity Total Metaverse Index ETF seeks to replicate, to the extent reasonably possible and before fees and expenses, the performance of the Fidelity Canada Total Metaverse Index.

The target composition of Fidelity Canada Total Metaverse Index is approximately: 

  • 85% in the Metaverse category, and
  • 15% in the Digital Payments & Crypto Industry category. Exposure to Digital Payments & Crypto Industry is capped at 15% of the total index.

The ETF and ETF Fund will be sub-advised by Geode Capital Management LLC, a global systematic investment manager with over US $1 trillion in assets under management as at December 31, 2021. 

__________________________________

1 Source: JP Morgan, "Opportunities in the metaverse" report https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/opportunities-in-the-metaverse.pdf, citing Grayscale, "The Metaverse Web 3.0 Virtual Cloud Economies" https://grayscale.com/wp-content/uploads/2021/11/Grayscale_Metaverse_Report_Nov2021.pdf 

 

For more information, visit fidelity.ca

About Fidelity Investments Canada ULC 

At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals.

As a privately-owned company, our people and world class resources are committed to doing what is right for investors and their long-term success. Our clients have entrusted us with $190 billion in assets under management (as at May 17, 2022) and they include individuals, financial advisors, pension plans, endowments, foundations and more.

We are proud to provide investors a full range of domestic, international and global equity and income-oriented mutual funds, ETFs, asset allocation strategies, managed portfolios, sustainable investing products, alternative mutual funds and a high net worth program. Fidelity is available through a number of advice-based distribution channels including financial planners, investment dealers, banks and insurance companies.

Commissions, trailing commissions, management fees, brokerage fees and expenses may be associated with investments in mutual funds and ETFs. Please read the mutual fund or ETF's prospectus, which contains detailed investment information, before investing. Mutual funds and ETFs are not guaranteed. Their values change frequently, and investors may experience a gain or a loss. Past performance may not be repeated.

INDEX PROVIDER DISCLAIMER

The ETF is indexed to Fidelity Canada Total Metaverse Index. The Index is designed to reflect the performance of stocks of issuers from around the world that are related to the metaverse and/or its digital economy. The ETF is not sponsored, endorsed, sold, or promoted by Fidelity Product Services LLC ("FPS"). FPS makes no representation regarding the advisability of investing in the ETF. The Prospectus contains a more detailed description of the limited relationship FPS has with Fidelity and any related funds/ETFs.

Find us on social media @FidelityCanada

Related Links
http://www.fidelity.ca

SOURCE Fidelity Investments Canada ULC

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2022/18/c4213.html

Copyright CNW Group 2022

Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).