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Fidelity’s AUM up 4.7% in 2016; institutional assets flat

Fidelity Investments reported $5.7 trillion in assets under administration as of Dec. 31, of which $2.13 trillion were assets under management, the company said in its annual report Thursday.

The company's AUA grew 10.6% from Dec. 31, 2015, while its AUM rose by 4.7% in the same period.

Fidelity's revenue totaled $15.9 billion for the year, an increase of 3.4% vs. 2015. Fidelity netted operating income of $3.5 billion, an increase of 19.5% from the year before.

The annual report did not provide any quarterly comparisons.

Fidelity added $9.3 billion in net discretionary inflows — which includes Fidelity-managed mutual funds, other managed products and managed accounts — and $209.6 billion in net non-managed flows, which are funds not directly managed by Fidelity. The $9.3 billion in discretionary inflows for 2016 marked a decline from the $32.8 billion in net inflows in 2015.

Fidelity Institutional ended the year with $2.21 trillion in total AUA, up 9.7% from 2015, and $575 billion in AUM, up 0.2% over the year.

Fidelity mutual funds outperformed 58%, 68% and 70% of peers for the trailing one-, three- and five-year periods ended Dec. 31, respectively. This compares with 72%, 72%, and 71% for the same periods in 2015.

Fidelity's equity mutual funds, which include domestic, international, and global funds, topped 36%, 60% and 68% of peers for the one-, three-, and five-year periods ended Dec. 31, respectively.

In fixed-income mutual funds, for the one-, three- and five-year periods, 67%, 71%, and 61% outperformed their peers, respectively.