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Fidelity Investments, formerly known as Fidelity Management & Research (FMR), is an American multinational financial services corporation based in Boston, Massachusetts.. Established in 1946, the company is one of the largest asset managers in the world, with $5.8 trillion in assets under management, and $15.0 trillion in assets under administration, as of September 2024
It was established in 1969 [3] as an international investment subsidiary of Fidelity Management & Research, before becoming an independent business in 1980. Today, Fidelity International handles investments for clients in Europe, Canada, EMEA and Asia, while the US-based Fidelity Management and Research handles investments for clients in the USA.
At that time, "OM Financial Life Insurance Company" changed its name back to "Fidelity & Guaranty Life Insurance Company". In 2013, the company announced a move of its headquarters to Des Moines, Iowa, citing a lower cost of business and a desire to operate under a similar regulator as rival companies. [13]
In general, an asset management company is a company that is engaged primarily in the business of investing in, and managing, portfolios of securities. A study by consulting firm Casey Quirk, which is owned by Deloitte , found that asset management firms ended 2020 with record highs in both revenue and assets under management .
The fund's name stems from its original mandate in 1967: "the fund's mission was to take a contrarian view, investing in out-of-favor stocks or sectors." [2] This strategy has changed since the 1990s to become a fund focused on growth investing in large companies, and the Contrafund's strong history of growth has led to its being "a stalwart of many 401(k) plans".
The following is a limited list of mutual-fund families in the United States.A family of mutual funds is a group of funds that are marketed under one or more brand names, usually having the same distributor (the company which handles selling and redeeming shares of the fund in transactions with investors), and investment advisor (which is usually a corporate cousin of the distributor).
Fidelity European Trust is a large British investment trust dedicated to long-term investments across Continental Europe. Established in 1991, [ 1 ] the company is a constituent of the FTSE 250 Index .
[1] [2] Citrone has a bachelor's degree from Hampden-Sydney College, and an MBA from the Darden School of Business. [3] In 1990, Citrone was hired as a corporate-bond analyst at Fidelity Investments. [4] He resigned from Fidelity in 1995 and joined Tiger Management. [4] In 1999, Citrone co-founded Discovery Capital Management. [3]