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.