For decades, the Boston Behemoth built an empire on stock funds, thanks to the celebrated exploits of stock pickers like Peter Lynch. However, bonds and money market assets now appear to have taken the baton, according to Reuters.

Bond and money market AUM at Boston-based Fidelity [profile] have reached $848.9 billion, accounting for more than half of the company's $1.6 trillion in managed assets, the wire service reports.

Ford O'Neil, a top bond manager at Fidelity, drew attention to the fact during a Wednesday media presentation in Boston.

At Fidelity, bond funds this year have attracted $18.3 billion in net flows from customers. Meanwhile, Fidelity stock funds have experienced net outflows of $3.6 billion, according to Lipper Inc., a Thomson Reuters company.

To read more, turn to the full article at the Reuters website. 

Edited by: Tommy Fernandez


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