ETF Alliance Formed

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    Fidelity Investments and BlackRock, Inc. have announced a strategic alliance that promises increased access to exchange traded fund products from BlackRock’s iShares division for Fidelity’s customers in the United States. As part of the partnership, Fidelity will more than double its current online commission-free ETF offerings and will create new ETF portfolio strategies using iShares as components within its managed account offering. Additionally, BlackRock will help support Fidelity’s future passive sector investment management efforts.