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Fidelity Assets Under Management Reach Record $3.3 Trillion

  • Firm hired 2,000, added products as stock markets rebounded
  • Brokerage and asset manager issues second-quarter report
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Fidelity Investments’ assets under management reached a record of $3.3 trillion at the end of June, a 15% increase from the year prior, as a surge in stock trading and new accounts helped bring in money.

Customers opened almost 1.2 million retail accounts, the Boston-based company said Tuesday in a report, boosting flows to the firm’s mutual funds and exchange-traded funds. Equity trading more than doubled to an average of 2.3 million daily transactions in the second quarter as markets rebounded.