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Rating:The Boston Behemoth's AUM Rises 19 Percent Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, March 02, 2021

The Boston Behemoth's AUM Rises 19 Percent

Reported by Neil Anderson, Managing Editor

AUM at Fidelity Investments' [profile] asset management (AM) division climbed 19 percent last year to $3.8 trillion. (That translates to 38.8 percent of Fidelity's total AUA.)

Abigail "Abby" Pierrepont Johnson
FMR (dba Fidelity Investments)
Chair, President, CEO
That's one update that Abby Johnson, CEO and chair, and her team reveal in their freshly-released 2020 shareholder update for the privately held, Boston-based giant. Bart Grenier, head of AM, notes that the unit brought in $144 billion in net inflows last year.

Within Fidelity AM, the biggest inflows winners were the Boston Behemoth's money market funds, which brought in $90 billion in net 2020 inflows. Other big winners include managed accounts ($50 billion in net inflows) and direct-sold index funds ($39 billion). On the ETF side, Fidelity's AUM reached $45 billion by years-end.

Across all of Fidelity, revenue rose 0.5 percent to $21 billion in 2020. Operating income rose 4.6 percent to $7.2 billion, while operating expenses fell 2.1 percent to $13.8 billion. (That translates to a 34.3 percent operating margin.) Total AUA rose 17.9 percent to $9.8 trillion.

The firm added 10,500 new employees in 2020. 6,100 of those were in U.S. customer-facing roles (up 72 percent from 2019). 

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