Fidelity Assets Hit $5.9 Trillion as Revenue Jumps to Record

Fidelity Investments, the world’s third-largest asset manager, saw assets in its funds rise by $1 trillion over the past year and revenue jump to a record high.

Assets under management, which are held in Fidelity’s own investment funds and managed accounts, hit $5.9 trillion in 2024 from $4.9 trillion a year earlier, the Boston-based firm said Tuesday in its annual report. Revenue jumped 16% to a record $32.7 billion, while operating expenses rose 14%.

Asset-based revenue was helped by the performance of actively-managed equity and fixed income funds, Chief Executive Officer Abigail Johnson said. Fidelity also saw inflows ...