Fidelity Investments intends to 'hard close' two institutional money market funds to curb exposure to COVID-19's high-volatility market
Each fund is of the prime institutional money market that comprises up to 7% of the $4.6 trillion US money market fund industry, but use has dwindled from $1.1 trillion in 2011 to today's $356 billion.
F Galton
Related Moves
BlackRock adds Fidelity's retail legend and Morgan Stanley ex-retail chief, sparking belief Larry Fink is eyeing wealth channel
The Wall Street asset giant added Kathleen Murphy and Greg Fleming to its board and retail investors know iShares and Aladdin.
May 1, 2025 at 1:47 AM
RIABlitz: Vanguard technology • Pontera rebounds • Ex-HiddenLever's exec success • BlackRock rocked • Vivek's crypto • WF dunks SF? • Betterment dry option• Vestwell poached
The RIA firehose of news is rife with tactical moves to shore up voids, play catchup and react to a new concept of political tailwinds
January 11, 2025 at 3:01 AM
Breen Blitz: Mercer seals Vanguard OCIO buy • Goldman[Sachs] & Cohen split • PIMCO joins ETF shift • AdvisorEngine-Schwab bond grows • Ellevest milestone • Lonsdale nets new chief • Fidelity leaks data & staff move • Collation wins RIAs • Justin Wisz returns as investor • LPL nets CMO & Tifin a CEO
OCIO sale to Mercer may be Buckley's last act • Goldman's retail lead departs • PIMCO latest to convert mutual funds • Software firm upgrades Schwab data • Krawcheck preaches wisdom of naps • Fidelity hit by data snafu, but D&I on track • New Lonsdale tech shop imminent • Vestorly founder now funding start-ups • Eight month wait for CMO ends at LPL.
March 21, 2024 at 4:41 AM
Fidelity lays off 700 -- not for costs or [bad] performance -- but to shift headcount and hire more client-facing and tech staff, touching off 'panic posting' on job board
The $12.6 trillion Boston investments eyes 2,000 new hires to speak directly to clients or develop more tech products, but lack of clarity jars some staffers
March 12, 2024 at 1:08 AM
See more related moves
