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NEWS
By NEWHOUSE NEWS SERVICE | November 4, 1999
WASHINGTON -- It isn't surprising that the Salvation Army and the YMCA top the Philanthropy 400 -- the list of charities that raised the most money last year. What is surprising, controversial and troubling to some in the nonprofit world is the newcomer to the No. 3 slot.Right after those two big brand-name charities, and right before the venerable American Cancer Society, comes the Fidelity Investments Charitable Gift Fund.Fidelity Investments is the world's largest mutual fund company. On this list, its charitable offspring is a giraffe grazing among the cows.
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BUSINESS
By Eileen Ambrose, The Baltimore Sun | August 25, 2013
Lisa Scott of Sparrows Point has seen young relatives graduate from college and struggle to keep up with $100,000 in education debt. "Their current jobs do not allow them to pay that debt" said Scott, area marketing director for Chick-fil-A in Maryland. "The stress on them is horrific and so much, when it should be the most exciting time of their life, coming out of college and ready to take a bite out of the world. " Scott, 48, doesn't want the same to happen to her 7-year-old daughter Lilly.
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BUSINESS
May 4, 1995
Fidelity names fund directorFidelity Investments, whose bond mutual funds were stung last year by rising interest rates and risky investments, named managing director Fred Henning yesterday as director of its fixed-income and money market funds.Mr. Henning's predecessor, Thomas Steffanci, resigned in January to become a principal with Alpha Select Investments Inc. in Portsmouth, N.H., after a year in which 18 of Fidelity's 20 taxable bond funds suffered losses.
BUSINESS
Eileen Ambrose | May 20, 2013
Fidelity Investments reports that 70 percent of the Class of 2013 leaves college with on average $35,200 in debt. That's all kinds of debt, from student loans and money owed to Mom and Dad to credit card balances. And half of 2013 graduates say they are surprised how much debt they have accumulated, despite so much publicity on the subject, the Boston-based financial company said in its study released last week. The study found that 39 percent of grads - a jump of 14 percentage points over two years ago - said they might have made different decisions had they realized they would have a debt hangover.
ENTERTAINMENT
By KRT | October 17, 2002
Basic retirement planning sites SEC's Financial Facts Tool Kit:www.sec.gov/investor/pubs/toolkit.htm The American Savings Education Council's Tools and Resources section: www.asec.org/toolshm.htm The National Endowment for Financial Education: www.nefe.org/pages/multimedia.html MSNBC: www.msnbc.comSophisticated planning tools T. Rowe Price (Choose Retirement/IRAs): www.troweprice.com T. Rowe Price's Retirement Income Calculator: www3.troweprice.com/ric/RIC/ Fidelity Investments (Choose Retirement and Planning)
BUSINESS
By BLOOMBERG BUSINESS NEWS | July 21, 1996
BOSTON -- Fidelity Investments is expanding its defined contribution business overseas, initially to Canada, the United Kingdom and Hong Kong.The Boston-based money management firm is looking abroad because "the market opportunities in these countries are very similar to where the U.S. was eight to 10 years ago in the growth of defined contribution plans," said Robert Reynolds, president of Fidelity Investments Institutional Retirement Group.Assets in 401(k) plans in the U.S. have rocketed to $675 billion at the end of 1995 from $105 billion 10 years ago, according to Access Research Inc.Fidelity is the largest provider of 401(k)
BUSINESS
By Eileen Ambrose | May 11, 2011
So maybe we are becoming a nation of savers? Fidelity Investments, a major provider of 401(k) plans for employers, says the average balance reached $74,900 at the end of March, a record high since December 1998 when the company started tracking this information. Fidelity says the average balance is up nearly 12 percent from a year earlier, but a 58 percent jump since 2009. Of course, the stock market recovery surely has a lot to do with that. March 2009 was a low in the market after the disastrous Fall of 2008 when stocks seemed to be on a downward spiraling rollercoaster with no brakes.
BUSINESS
January 10, 2000
New positions PDS Research Associates appoints Krysztoforski CEO PDS Research Associates has appointed Joseph T. Krysztoforski as chief executive officer of the specialized management advisory firm, based in Hunt Valley. He will develop PDS' strategic and operational plans and expand its role in assisting small-to-midsize businesses going into electronic commerce. With the firm since 1996, Krysztoforski formerly was senior vice president of the medical technology company MedE America.
BUSINESS
Eileen Ambrose | May 20, 2013
Fidelity Investments reports that 70 percent of the Class of 2013 leaves college with on average $35,200 in debt. That's all kinds of debt, from student loans and money owed to Mom and Dad to credit card balances. And half of 2013 graduates say they are surprised how much debt they have accumulated, despite so much publicity on the subject, the Boston-based financial company said in its study released last week. The study found that 39 percent of grads - a jump of 14 percentage points over two years ago - said they might have made different decisions had they realized they would have a debt hangover.
BUSINESS
By BLOOMBERG NEWS | June 15, 1997
BOSTON -- Fidelity Investments is spending more than $100 million this year to improve the technology used by its institutional retirement group."In the 401(k) business alone this year, we'll spend over $100 million and this type of investment takes place year after year after year," said Robert Reynolds, who oversees the Fidelity business.Competition in the 401(k) market is fierce. Fidelity holds the No. 1 position, with more than $130 billion in assets, or about twice as much as the nearest competitor.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | June 5, 2011
When you retire at 65, you'll need 75 percent of your pre-retirement income to live comfortably in old age. And your money will have to last until you die at 92 — or 94 if you're a woman. These are some of the assumptions that investment firms make about us for retirement planning. But how do they come up with these numbers? It's part science — and a bit of art. Investment firms use statistics and studies to create dozens of assumptions, from when we are likely to retire and die to what future inflation rates will be or how much our 401(k)
BUSINESS
By Eileen Ambrose | May 11, 2011
So maybe we are becoming a nation of savers? Fidelity Investments, a major provider of 401(k) plans for employers, says the average balance reached $74,900 at the end of March, a record high since December 1998 when the company started tracking this information. Fidelity says the average balance is up nearly 12 percent from a year earlier, but a 58 percent jump since 2009. Of course, the stock market recovery surely has a lot to do with that. March 2009 was a low in the market after the disastrous Fall of 2008 when stocks seemed to be on a downward spiraling rollercoaster with no brakes.
BUSINESS
By EILEEN AMBROSE | June 21, 2009
Get the conversation going Here are questions from financial planners and Fidelity Investments to help launch a discussion about retirement issues between you and your mate. Answer questions separately. Then compare notes. 1. What's a good day in retirement look like to you? 2. Among retired friends and relatives, whose lifestyle would you like to emulate? How did they do it? 3. What in your mind is keeping you from achieving the retirement of your dreams? 4. Will you or your spouse work part time in retirement?
BUSINESS
By Charles Jaffe and Charles Jaffe,Marketwatch | March 27, 2007
A big debate in the mutual fund industry has left investors somewhere between "new and improved" and "if it ain't broke, don't fix it." Intuitively, shareholders want the former - every improvement is seen as good news - and fund companies want the latter. Alas, when it comes to the debate over whether mutual fund boards should have chairmen and a super majority of directors who are independent of company management, it appears that fund interests are going to win. In 2004, the Securities and Exchange Commission adopted a rule requiring all funds to appoint an independent chairman and to make three-quarters of the board of directors independent.
BUSINESS
By CHARLES JAFFE | June 5, 2005
Daniel Smith and his wife recently received notices from Fidelity Investments with "Important Notice" stamped on the outside. Both Smiths, who live in Norwood, Mass., have Fidelity's Freedom funds in retirement plans, and the letter was about their holdings. The Freedom funds are "life-cycle funds," issues that age and become more conservative along with the investor. They invest entirely in other Fidelity funds and are designed as a one-size-fits-all default choice, the kind of fund an investor is supposed to be able to put money into and forget about.
BUSINESS
By CHARLES JAFFE | January 16, 2005
For years, the best news an investor could get about a mutual fund was that expenses were being cut. As a result, investors who see fee cuts today assume the reduction is always good news. Increasingly, however, expense cuts are becoming a fund company's way of apologizing for its mistakes, of trying to make up for times when performance may have fallen short of expectations. Fund reform is forcing companies and directors to be more circumspect about expenses, knowing that the public is more aware than ever that some funds have been generating big revenues for management without ever generating superior gains for investors.
BUSINESS
By Timothy J. Mullaney | October 1, 1991
C As investors prepare for a month when more certificate-of-deposit money is scheduled to roll over than ever before, a study commissioned by Fidelity Investments says that only 31 percent of CD holders with October expirations are committed to keeping their money in the bank.The culprit is lower interest rates, says Fidelity, relying on a national polling firm's survey of 302 consumers who own CDs scheduled to expireduring the next six months. CD yields have fallen to between 5 percent and 6 percent, giving pause to many customers who invested in CDs when rates were much higher.
NEWS
November 13, 1999
Charity begins with foundations close to homeThe Sun's recent report on charitable giving by Americans noted the rapid rise in donations to gift funds run by for-profit mutual fund companies ("Fidelity Investments vaults to top of charities, " Nov. 4)).While the $572 million Americans donated to charity last year through Fidelity Investments is significant, it pales in comparison to the more than $2.8 billion they donated through local non-profit community foundations in 1998.Despite the hefty marketing budgets of mutual fund companies, community foundations have an advantage Fidelity Investments can't match: Local management that understands community needs and can counsel donors about how their contributions can achieve maximum impact.
BUSINESS
By CHARLES JAFFE | December 26, 2004
If the rest of the world were like the mutual fund business, Santa Claus could replace his elves with coal miners. Fifteen months of scandals have shown that plenty of bad boys and girls in the fund world deserve coal in their Christmas stockings this year, and that's why it's time for the second installment in my Annual Lump of Coal Awards. It takes more than dreadful performance or a whiff of scandal to earn a spot in my ninth annual awards. Lumps of Coal recognize managers, executives, firms and industry watchdogs for attitude, performance, action or behavior that is offensive, duplicitous, disingenuous, reprehensible or just plain stupid.
BUSINESS
By BLOOMBERG NEWS | December 16, 2004
Fidelity Investments, the world's largest mutual fund company, said that federal regulators are investigating whether its employees took improper gifts in exchange for directing business to brokers at outside firms. Fidelity uses outside brokers to execute securities trades. The Boston company, which oversees about $1 trillion for clients, is cooperating with investigations by the Securities and Exchange Commission and the NASD, Fidelity spokeswoman Anne Crowley said yesterday. Fidelity also is conducting its own review, she said.
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