September 5, 2018 / 9:32 AM / 16 days ago

Fidelity enters Swiss market for exchange-traded index funds

ZURICH, Sept 5 (Reuters) - Fidelity International is entering the Swiss market for exchange-traded index funds, it said on Wednesday, stepping up the pressure on rival asset managers.

The Fidelity US Quality Income UCITS ETFs, launched in April 2017, will trade on the SIX Swiss Exchange. The annual fee will be 0.3 percent for funds in Swiss francs and dollars and 0.35 percent for those in sterling and euros with currency hedging, it said in a statement.

It planned more ETFs and index products, it said without elaborating.

Privately owned Fidelity International manages 266 billion euros ($308 billion) in assets for investors in Europe, Asia, Australia and South America.

Fidelity made waves in the United States last month by launching no-fee index funds.

$1 = 0.8645 euros Reporting by Michael Shields

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