AUM at Fidelity Investments'
] 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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