Fidelity Canada Launches Long/Short Fund, Expands ETF Offerings
Event summary
- Fidelity Investments Canada launched the Fidelity Global Opportunities Long/Short Fund and a series of ETFs, including FCAE and FLSE.
- The Fund is managed by Max Adelson and Nicolas Bellemare, who previously co-managed a student investment fund at McGill University.
- Fidelity is introducing U.S. dollar purchase options for several existing All-in-One ETF funds, which collectively hold $15 billion in assets.
- Fidelity Canada manages $364 billion in assets under management as of January 19, 2026.
- This marks Fidelity's expansion into alternative investment offerings, following the launch of its first alternative fund in 2020.
The big picture
Fidelity’s move into long/short strategies reflects a broader trend among asset managers to offer clients more sophisticated investment solutions in response to volatile market conditions and a desire for enhanced returns. The introduction of U.S. dollar purchase options signals an effort to cater to evolving investor preferences and potentially attract new capital. This expansion also positions Fidelity to compete more directly with other firms offering alternative investment strategies, highlighting the increasing importance of research-driven approaches in this space.
What we're watching
- Performance
- The Fund’s long/short strategy will be tested against a backdrop of continued geopolitical and economic uncertainty, and its performance relative to traditional long-only strategies will be a key indicator of its appeal.
- Client Adoption
- The success of the U.S. dollar purchase options for existing All-in-One ETFs will reveal the extent of client demand for this feature and its impact on overall AUM growth.
- Regulatory Scrutiny
- As Fidelity expands its alternative investment offerings, increased regulatory scrutiny of long/short strategies and the use of derivatives is likely, potentially impacting fund operations and marketing.
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