Crane Data Subscribers
Fidelity Investments released its "Shareholder Update 2006" citing "significant flows into our money market funds" as a major factor in the company's record asset totals. Chairman Edward C. Johnson 3d said, "Our money funds continued to beat more than 80% of their peers and led the way in asset gathering in 2006, pulling in nearly 94% of our complexwide $50.9 billion in managed net flows." Strategic Insight shows Fidelity gaining $45.1 billion in net new flows in 2006, almost as much as Vanguard's $26.4 billion and Schwab's $19.3 billion (Nos. 2 and 3) combined.
