# Fidelity Investments Canada ULC

Fidelity Investments Canada ULC is a Mutual Funds and ETFs based in Toronto, Canada.

## Overview

- **Organization type:** Mutual Funds and ETFs
- **Headquarters:** Toronto, Canada
- **Region:** North America
- **Address:** Toronto, Ontario, Canada
- **Founded:** 1987
- **Assets under management:** Undisclosed
- **Website:** fidelity.ca
- **LinkedIn:** https://www.linkedin.com/company/fidelity-investments-canada-ulc

## Regulatory record

- **Reports private funds:** No

## About

Fidelity Investments Canada ULC helps Canadian investors reach their financial goals. Since 1987 its mission has been to help driven Canadians reach their goals faster than they thought possible. It offers domestic, international, and global equity and income-oriented mutual funds, ETFs, and asset allocation strategies, and is a privately owned company committed to performance and investor success.

## Sectors

- Public Equities
- Fixed Income
- Asset Allocation

## Offices

- Montreal
- Calgary
- Vancouver

## People

- Diana Godfrey — President
- Andrew Clee — Vice President of Product
- Michael Niedermeyer — Chief Financial Officer

## Questions

### Who runs investment decisions at Fidelity Canada?

Diana Godfrey serves as President of Fidelity Investments Canada ULC, a role she has held since 2019. Investment portfolio decisions are made by dedicated Canadian portfolio managers who leverage the Boston-based Fidelity global research network. The Canadian equity and fixed-income teams operate with full portfolio discretion under Ontario regulatory oversight.

### How does Fidelity Canada source investment ideas for its Canadian equity funds?

Fidelity Canada taps the same 400-plus equity and credit research analysts based in Boston, London, and Asia that support Fidelity's global funds. This proprietary research pipeline is embedded into the Canadian portfolio teams, who then tailor strategies for Canadian-domiciled funds. The model avoids externally sub-advised mandates that many Canadian bank-owned fund families use.

### Is Fidelity Canada a separate entity from Fidelity Investments in the United States?

Yes. Fidelity Investments Canada ULC is a separate Canadian legal entity and reporting issuer, regulated by the Ontario Securities Commission and other provincial authorities. It is ultimately owned by FMR LLC, the Boston-based parent, but operates with its own board, portfolio managers, and compliance infrastructure. Canadian client assets are held separately from US retail brokerage accounts.

### Does Fidelity Canada offer ETFs, and how have they positioned them against competitors?

Fidelity Canada entered the ETF market with actively managed equity and fixed-income ETFs, launching a suite of asset-allocation ETFs in January 2025 to compete directly with Vanguard and iShares offerings. The firm emphasizes its active management expertise rather than pure beta replication. Many of its ETF strategies mirror the mandates run inside the larger Fidelity mutual fund franchise.

### What is Fidelity Canada's known posture on liquid alternative investments?

Fidelity Canada has expanded its liquid alternative mutual fund shelf in recent years, filing prospectuses for market-neutral and long-short equity products accessible to accredited Canadian investors. These funds mirror Fidelity's alternative strategies available in the US market. The firm targets advisors who seek alternative return streams inside a regulated mutual fund structure.

### How does Fidelity Canada differ from Canadian bank-owned asset managers like RBC GAM or TDAM?

Unlike the Canadian Big Six banks' asset management arms—which often rely on in-house sub-advisory and proprietary distribution through branch networks—Fidelity Canada distributes exclusively through third-party financial advisors, broker-dealers, and direct platforms. The firm's investment research is sourced from Fidelity's Boston-based global team, not a Canadian bank's internal equity desk. This arm's-length distribution model has historically positioned Fidelity as a neutral product provider rather than a bank-captive manager.

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Last updated: 2026-08-11T15:06:42.396Z

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