News/Press

Recent press releases are listed below by date. Click on a title to read the full text of a release.

Pyramis Global Advisor Appoints Head of Asset Allocation
October 4, 2006
Pyramis Global Advisors, a Fidelity Investments company, today announced the appointment of Mark A. Friebel as head of Asset Allocation reporting to Young D. Chin, chief investment officer. In this newly created position, Friebel will develop and oversee the management of asset allocation strategies and products for Pyramis.

Pyramis Survey: Use of Alternative Investments by Endowments and Foundations Likely to Increase Despite Challenges Measuring Risk
September 28, 2006
A survey of the investing behaviors of CFOs at endowments and foundations found that these organizations plan to increase their already sizeable allocation to alternative investments, yet two-thirds readily admit that it is difficult to measure and manage their risk. Alternative investments are defined as hedge funds, private equity, venture capital, and other asset classes such as commodities and active currency.

Fidelity Investments Expands Defined Benefit Platform
May 12, 2006
With defined benefit plans and their sponsors facing continued pressures and uncertainty, Fidelity Investments today announced an expansion of its Fidelity Pension Advantage^SMprogram that delivers defined benefit plan sponsors increased investment flexibility and greater access to and control of plan data to help them identify and mitigate financial and fiduciary risks.

Pyramis Global Advisors Hires Chief Investment Officer
March 22, 2006
Pyramis Global Advisors today announced the appointment of Young D. Chin as the organization's first chief investment officer, completing the formation of the firm's investment management leadership team under President Peter J. Smail. Pyramis, a unit of Fidelity Investments, was created in 2005 to serve institutional investors. Chin, a 28-year veteran of the investment management business, will oversee the portfolio management, research, and trading functions at Pyramis.

Fidelity Investments Appoints Senior Trust Company Executive
February 3, 2006
Fidelity Investments today announced the appointment of Jeffrey W. (Jeff) Smith as executive vice president, sales and consultant relations for Fidelity Management Trust Company (FMTC), reporting to Drew E. Lawton, president and chief executive officer of FMTC. In this capacity, he will oversee all sales, consultant relations, and related activities for the company's markets.

Fidelity Investments Announces "Fidelity Pension Advantage^SM"
February 1, 2006
Leveraging its experience in providing solutions to pension plans, Fidelity Investments today introduced "Fidelity Pension Advantage^SM," a comprehensive new product and service offering designed to help CFOs confront the complex challenges facing defined benefit plans. This solution will allow CFOs to better manage their pension plan's impact on corporate financials and meet their fiduciary responsibilities.

Pyramis Global Advisors Builds Investment Team
December 7, 2005
Pyramis Global Advisors, a Fidelity Investments Company, today announced key appointments within its new and expanding investment management organization. Fidelity created Pyramis earlier this year to serve institutional clients.

Fidelity Management Trust Company Reports Nationwide Improvement in Defined Benefit Plan Funding
November 30, 2005
Despite the recent spate of high-profile pension bankruptcies, new research sponsored by Fidelity Management Trust Company suggests that defined benefit (DB) funding levels have actually improved steadily over the last three years, and that the majority of plan sponsors remain committed to offering DB, at least for the near-term.

Fidelity Management Trust Company Reports More than $100 Billion in Institutional Assets Under Management
August 17, 2005
Fidelity Investments today reported more than $100 billion in assets under management in its Fidelity Management Trust Company (FMTC) for the first half of 2005, a 12 percent increase over the last 12 months, largely driven by a record increase in assets from international equity mandates for corporate and tax-exempt pension plans.

Public School Retirement System of the City of St. Louis Selects Fidelity to Manage International Growth
May 11, 2005
Fidelity Investments today announced that the Public School Retirement System of the City of St. Louis has selected Fidelity Management Trust Company to manage $57.4 million in an international growth portfolio on behalf of its defined benefit pension plan.

Fidelity Moves to Expand Investment Capacity
March 16, 2005
Fidelity Investments® announced today that it is creating a new investment operation that will focus on institutional clients and non-Investment Company Act of 1940 business, and will become independent of Fidelity Management & Research Company (FMRCo), which currently manages Fidelity's existing mutual funds.

Washington State Investment Board Selects Fidelity to Manage International Mandate
October 27, 2004
Fidelity Investments® today announced Washington State Investment Board (WSIB) selected Fidelity Management Trust Company to manage about $500 million in an international portfolio on behalf of its defined benefit pension plan.

Shriners Hospitals for Children Selects Fidelity to Manage Fixed Income Mandate
September 8, 2004
Fidelity Management Trust Company today announced it has been selected by Tampa, Florida-based Shriners Hospitals for Children to manage approximately $340 million in a fixed-income portfolio on behalf of its Endowment Fund. Callan Associates assisted in the selection process.

Santa Barbara County Employees' Retirement System selects Fidelity to manage international mandate
January 28, 2004
Fidelity Management Trust Company today announced it has been selected by Santa Barbara County Employees' Retirement System to manage approximately $50 million in an active international equity portfolio on behalf of its defined benefit pension plan. Encino, California-based Pension Consulting Alliance, Inc. assisted the plan in the selection process.

State of Connecticut Retirement Plans & Trust Funds selects Fidelity to manage $200 million international mandate
September 23, 2003
Fidelity Management Trust Company today announced it has been selected by the State of Connecticut Retirement Plans & Trust Funds to manage approximately $200 million in a risk-controlled international equity portfolio on behalf of its defined benefit pension plan. CRA RogersCasey assisted the plan in the selection process.

Fidelity Strengthens Defined Benefit Relationship Management and Consultant Relations Teams
September 10, 2003
Fidelity Management Trust Company today announced that it has strengthened its West Coast relationship management and consultant relations teams with the appointments of Eric Winterhalter and Robert Strachan to senior vice president.

New Mexico Educational Retirement Board selects Fidelity to manage $170 million international mandate
June 24, 2003
Fidelity Management Trust Company, a leading provider of investment management services to institutional investors worldwide, today announced that it has been selected by the New Mexico Educational Retirement Board to manage more than $170 million in a risk-controlled international equity strategy on behalf of its defined benefit pension plan.

Chicopee Contributory Retirement System selects Fidelity to manage $3.9 million in international growth mandate
April 23, 2003
Fidelity Management Trust Company today announced that it has been selected by Chicopee (Mass.) Contributory Retirement System to manage $3.9 million in an international growth strategy on behalf of its defined benefit pension plan.