Fidelity Investment's reach across the workplace investing landscape is huge, and grew even larger last year.
The Boston-based mutual fund giant worked with 25 million defined contribution plan participants as of the end of 2014. That's only a tad less than the population of America's 10 most populated cities combined, or, to put it another way, greater than the population of Australia.
Not impressed yet? How about this? The company had $1.46 trillion in assets under administration. That, by the way, is equal to the combined annual GDP of the 12 Balkan nations, according to the World Bank, and close to Germany's entire revenues during 2013.
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Just last year alone Fidelity added another 1.2 million participants and $42 billion in defined contribution assets.
Among new clients, it counted major additions in Deutsche Bank AG and American Airlines Group. It paid attention to participants, too, with its workplace investing team logging some four million "guidance conversations and online tool interactions" with participants.
And companies must be happy with Fidelity, because its client retention rate is 97 percent, with an assets-under-administration rate of 99 percent. Tough to beat statistics like those.
To top it off, in its annual report, the company said that revenue and operating income for the year had reached an all-time record. All this, by the way, is despite the fact that investors withdrew $16 billion from its actively managed stock funds — twice as much as investors pulled out in 2013.
Revenue totaled $14.9 billion, up 9 percent from 2013, with operating income up a whopping 29 percent from the previous year at $3.4 billion. It managed assets within its own products of $2.03 trillion, an increase of 4 percent, and assets under administration companywide were up 10 percent from 2013 to $5.06 trillion.
The 2013 outflow trend in Fidelity's bond funds in its asset management division reversed itself in 2014, with $2 billion coming in compared with $18 billion going out the year before.
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