Fidelity rolls out suite of new ETFs, slashes fees

FILE PHOTO: A sign marks a Fidelity Investments office in Boston, Massachusetts, U.S., April 28, 2022. REUTERS/Brian Snyder/File Photo

(Reuters) - Fidelity launched a group of six new exchange-traded funds (ETFs) Monday and announced sharp reductions on management fees on nearly a third of its total ETF lineup, kicking off what analysts expect to be another strong week for ETF debuts.

So far this year, asset managers have launched 419 ETFs, according to Morningstar Direct, taking 2023 a step closer toward breaking the 2021 record of 475 new ETFs.