Fidelity Investments - Definition and Overview

Fidelity Investments is a privately-held financial services company, comprising a large family of mutual funds, their distributors and investment advisors, and a retail brokerage. The keystone of Fidelity's corporate structure is FMR Corporation (Fidelity Management and Research), which serves as investment advisor to most Fidelity mutual funds. (Actual day-to-day management of these funds is subcontracted by FMR to one or more of its subsidiaries.) FMR subsidiaries serve as distributors and transfer agents to the entire Fidelity fund family.

Fidelity also owns many unrelated businesses, including a charter motor coach service, a temporary employment agency, and formerly a large chain of suburban-Boston newspapers (since sold to the publisher of the Boston Herald). Fidelity is controlled by Edward C. Johnson 3d, who is also chairman of the group, and his daughter Abigail Johnson; the Fidelity mutual funds are organized as Massachusetts business trusts tied to the lifetime of the Johnsons. Some of Fidelity's best known fund managers also own a share in the company, most notably former Fidelity Magellan manager Peter Lynch.

Fidelity's corporate headquarters are located in Boston, Massachusetts, with the largest U.S. operations located in Massachusetts, New Hampshire, and Rhode Island.

See also

• List of mutual-fund families

External links

• Corporate Web site (http://www.fidelity.com/)

Data

• Yahoo! - FMR Corp. Company Profile (http://biz.yahoo.com/ic/40/40150.html)