Fidelity Investments: A Look at its Crypto Plunge, Mutual Fund Conversions, and More

Fidelity Investments is a leader in the investment management industry, with a portfolio of over $7 trillion worth of assets under management. The company has been around since 1946 and is known for providing a wide range of financial services and products, including retirement planning, mutual funds, annuities, and more. Recently, Fidelity has been making headlines due to their foray into the world of cryptocurrencies and their plans to convert several active mutual funds into exchange-traded funds (ETFs). Here, we take a look at these developments and more from Fidelity.

Paul Ma, a senior portfolio manager at Fidelity Investments, recently spoke about the company’s foray into the world of cryptocurrencies. Ma discussed the risks involved in investing in cryptocurrencies, as well as the potential rewards. He noted that the technology behind cryptocurrencies could be revolutionary, and that Fidelity’s Investments in this area could be a game-changer for the industry.

Fidelity has also been busy making changes to its mutual funds. The company recently announced plans to convert six active thematic mutual funds into active equity exchange-traded funds (ETFs). These funds include Fidelity Global Innovators, Fidelity International technology, Fidelity US Small Cap, Fidelity US Real Estate, Fidelity US Financials and Fidelity US Health Care. The conversion process is expected to begin in late 2021.

In addition to these changes, Fidelity has made other important moves in recent months. Vadim Zlotnikov was appointed head of Fidelity Institutional, succeeding Mike Durbin who is moving into a “senior advisory role” at the company. Ashley Banfield, Head of Americas Trading, Equities, at Fidelity Investments, was recently awarded the Excellence in Equities Trading award at Markets Media Group’s 2021 Women in Finance Awards.

Fidelity has also been investing in companies that have potential for above-average growth. These stocks are typically from industries such as technology, healthcare, consumer discretionary, and financials. Denise Chisholm, Director of Quantitative Market Strategy at Fidelity Investments, was recently recognized as part of the Luminary Class of 2021 by Think Advisor.

Finally, Fidelity recently moved its headquarters to 245 Summer Street in Boston. The new space, which was designed by Gary Higgins, will feature a variety of amenities, including a 24-hour fitness center, game room, and outdoor terrace.

In conclusion, Fidelity Investments has been making a number of important moves in recent months. From their Investments in cryptocurrencies and mutual fund conversions, to their appointment of a new head of Fidelity Institutional and their recognition of Denise Chisholm, it’s clear that Fidelity is continuing to make waves in the investment management industry.