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Money Management

Fidelity’s AUM rises 15% in 2017 to $2.45 trillion

Fidelity Investments reported $6.8 trillion in assets under administration as of Dec. 31, of which $2.45 trillion were assets under management, the company said in its annual report Tuesday.

The company's AUA grew 19% from Dec. 31, 2016, while its AUM rose by 15% in the same period.

Fidelity's revenue totaled $18.2 billion for the year, an increase of 13.7% vs. 2016. Fidelity's operating income was $5.3 billion, an increase of 53.6% from 2016.

The annual report did not provide any quarterly comparisons.

Fidelity's total discretionary and non-discretionary net asset flows for the year were $258.3 billion, which was 18% higher than 2016's total net flows. This includes $24.1 billion in net discretionary flows — which consists of Fidelity-managed mutual funds, other managed products and managed accounts — and $234.3 billion in non-managed flows. Discretionary flows totaled $9.3 billion in 2016.

Fidelity mutual funds beat 78%, 77% and 76% of their industry peers for the trailing one-, three-, and five-year periods ended Dec. 31, respectively. This compares with 58%, 68% and 70% for the same periods in 2016.

Fidelity's U.S. equity mutual funds topped 79%, 75% and 76% of peers over the past one-, three- and five-year periods ended Dec. 31, respectively. Meanwhile, Fixed-income funds also continued to deliver strong long-term performance. For the one-, three- and five-year periods, 72%, 76% and 76% outperformed their peers, respectively.

In a letter to shareholders, Fidelity President and CEO Abigail P. Johnson attributed the company's "excellent financial performance in 2017" in part to "solid market share growth in key business segments and the asset boosts provided by rising global stock markets and higher U.S. interest rates."