The latest news in investment offerings, financial products and other services relative to wealth advisors and their clients.

Fidelity International
Fidelity International, a global asset manager and retirement savings business, has launched the Fidelity Global Equity Research Enhanced PAB UCITS ETF, listing on the Deutsche Börse Xetra with immediate effect.

The ETF forms part of the expanded Research Enhanced ETF range, marking Fidelity’s first equity Research Enhanced ETF within the Paris-Aligned Benchmark (PAB) framework, the firm said in a statement.

Fidelity’s Research Enhanced ETF range offers a transparent, cost-effective means of accessing the fundamental analysis and forward-looking sustainability assessments of Fidelity’s extensive global research platform, all within a risk-managed framework. The range, covering both equity and fixed income strategies, is divided into two sub-ranges with differing sustainability criteria – the core Research Enhanced ETFs are designed to achieve a better ESG score than the benchmark, while the Research Enhanced PAB ETFs are aligned to the Paris Agreement long-term global warming objectives by restricting the carbon emission exposure of their portfolios.

The new ETF, which will invest in global equities, aims to achieve income and capital growth while aligning with the Paris Agreement long-term global warming objectives by restricting the carbon emission exposure of its portfolio. Companies are selected and weighted in favour of those that Fidelity has identified as having a positive fundamental outlook, align with the carbon emission performance of the Solactive ISS ESG Screened Paris Aligned Developed Markets USD Index NTR benchmark, and are subject to disclosure requirements of Article 9 of the Sustainable Finance Disclosure Regulation (SFDR).

“This addition to our Research Enhanced ETF range provides clients even greater choice across asset class, geography and sustainability preference, all utilising the active insights from Fidelity’s global investment platform aiming to deliver market beta and alpha at a competitive price,” Neil Davies, head of ETF product and capital markets for Europe and Asia Pacific at Fidelity International, said.

“Sustainability remains a core consideration for many of our investors, and we are seeing increased demand for a greater range of options to express their sustainability preferences,” Jenn-Hui Tan, chief sustainability officer at Fidelity International, added. “This natural evolution of our product range provides more choice and greater transparency for those clients seeking to integrate climate objectives alongside financial goals in their investment portfolios.”

Fidelity International, which says it is the second-largest provider of active ETFs in Europe, has $8 billion in AuM. With this addition, its ETF range consists of 24 products, including nine actively managed equity ETFs, eight fixed income ETFs and six differentiated index ETFs, with a combined AuM of $11.7 billion.

Firenze, Parmenion
Firenze, a new player in the Lombard lending sector, is partnering with UK-based Parmenion, an investment platform.

Clients of advisors that use Parmenion’s platform can borrow against the value of their investment portfolios.

The Firenze platform offers loans from £65,000 ($87,321), secured against clients’ investment portfolios, increasing liquidity for other investments. (WealthBriefing interviewed the firm about its business model here.)

“Most excitingly, it is great to see that, so soon after launch, the Lombard lending proposition is already resonating with advisors. Assets are already being moved to Parmenion to allow advisors to better meet clients’ needs,” David Newman (pictured below), CEO of Firenze, said.

David Newman

The announcement follows the expansion of its London office, hires and platform investment. 

Firenze, which is backed by Outward VC, is led by Newman, Paul Pester as chair, and Samantha Bamert and Mike Toole as board members.

Thornburg, Capital Strategies
Thornburg Investment Management, a global, privately-owned investment firm with $52 billion in client assets, has partnered with Spain-based Capital Strategies Partners to serve institutional and wholesale investors in Italy and the Middle East.

Under the pact, Thornburg will broaden its international footprint and provide investors in both regions with access to its UCITS fund range, including flagship strategies such as the Equity Income Builder Fund, Global Opportunities Fund and Strategic Income Fund.

“Italy and the Middle East are important and growing markets for Thornburg, and we believe Capital Strategies’ deep local knowledge, long-standing relationships and proven expertise make them the ideal partner to connect investors with Thornburg’s differentiated investment solutions,” Jonathan Schuman, head of international at Thornburg, said. 

Founded in 1982, Thornburg is headquartered in Santa Fe, New Mexico, with offices in Hong Kong and London. Capital Strategies Partners, a privately-owned regulated firm, was founded in 2000.