Fidelity Investments

The seeds of Fidelity’s corporate history were sown as far back as 1930 when a small fund—called the Fidelity Fund—was started by a group of Boston investors. By 1943, Fidelity Fund had not made significant inroads in the industry, and the president resigned. Edward Crosby Johnson 2d was elected to take over as president and director. Under Mr. Johnson’s management, and infused with some family trust funds, the fund would grow, to the satisfaction of its shareholders. In fact, the fund’s assets grew from $3 million at the time of his arrival to $10 million two years later. In 1946, Fidelity Management & Research Company LLC (FMR) was formed by Mr. Johnson to serve as investment advisor to Fidelity Fund. Since the firm’s founding in 1946, Fidelity Investments has been known for its professional money management and comprehensive client services. Fidelity Investments is one of the world’s largest providers of financial services with assets under administration of $11.5 trillion, including managed assets of $4.2 trillion as of September 30, 2023. In 1977, Edward C. Johnson 3d became Chairman and Chief Executive Officer of FMR, succeeding his father, Edward C. Johnson 2d. In 2014, Abigail P. Johnson, daughter of Edward 3d, was named Chief Executive Officer of FMR. In 2016, Edward C. Johnson 3d retired as Chairman of FMR LLC, Fidelity’s parent company. Abigail P. Johnson, Chief Executive Officer of Fidelity, assumed the role of Chairman of FMR LLC, with responsibility for the management of all FMR LLC businesses, including Fidelity Financial Services and Fidelity’s other diversified businesses and investments. Fidelity is a privately held company, with its stock entirely owned by employees and members of the Johnson family. Each stockholder not only has an interest in the company’s success but also has an ability to contribute to that achievement. Headquartered in Boston, Massachusetts, Fidelity employs 73,000-plus associates with a global presence spanning nine other countries across North America, Europe, Asia, and Australia. Fidelity Diversifying Solutions, LLC (FDS) is a registered investment adviser under the Investment Advisers Act of 1940, and a wholly owned subsidiary of FMR. FDS is also registered with the U.S. Commodity Futures Trading Commission under the Commodity Exchange Act of 1936 as a commodity pool operator and commodity trading adviser. Lastly, FDS is a member of the National Futures Association. FDS primarily provides discretionary advisory and sub-advisory services to registered and unregistered investment companies, business development companies, real estate investment trusts, and various institutional clients. FDS also shares its investment research. Headquartered in Boston, Massachusetts, FDS has been in business since 2022.