Fidelity International Ltd, or FIL for short, is a company that provides

investment management Investment management is the professional asset management of various securities, including shareholdings, bonds, and other assets, such as real estate, to meet specified investment goals for the benefit of investors. Investors may be institut ...

services including mutual funds,

pension A pension (, from Latin ''pensiō'', "payment") is a fund into which a sum of money is added during an employee's employment years and from which payments are drawn to support the person's retirement from work in the form of periodic payments ...

management and fund platforms to

private Private or privates may refer to: Music * " In Private", by Dusty Springfield from the 1990 album ''Reputation'' * Private (band), a Denmark-based band * "Private" (Ryōko Hirosue song), from the 1999 album ''Private'', written and also recorde ...

and

institutional investor An institutional investor is an entity which pools money to purchase securities, real property, and other investment assets or originate loans. Institutional investors include commercial banks, central banks, credit unions, government-linked co ...

s. Fidelity International was originally established in 1969 as the international investment subsidiary of Fidelity Investments in Boston before being spun out as an independent business in 1980. Since then, it has continued to operate as a

employee-owned company Employee stock ownership, or employee share ownership, is where a company's employees own shares in that company (or in the parent company of a group of companies). US employees typically acquire shares through a share option plan. In the UK, Emp ...

History

It was established in 1969 as an international investment subsidiary of Fidelity Management & Research, before becoming an independent business in 1980. Today, Fidelity International handles investments for clients in Europe, Canada, EMEA and Asia, while the US-based Fidelity Management and Research handles investments for clients in the USA. In the same year that it was established, an office was opened in Tokyo, followed by London in 1973, Hong Kong in 1981 and Taipei in 1986. In 1990 the first Continental European office was opened in Amsterdam, when a number of Luxembourg funds for Continental Europe and Asia were launched. Expansion has continued, with Fidelity opening an office in India in 2001 and in China in 2004. In 2012, chief investment officer

Dominic Rossi Dominic Michael Joseph Rossi is global chief investment officer of equities for Fidelity International. He was previously with Gartmore Group, Gartmore. Rossi received his BA from the University of Sussex in 1985 and his MBA in 1993 from City Unive ...

expressed support for a UK government plan to allow shareholders to veto bonus deals for boardroom members in companies, using what '' The Guardian'' called "unusually confrontational language for a major investor more accustomed to operating behind the scenes". Rossi has since campaigned to get UK

long-term incentive plan A long-term incentive plan or LTIP is a type of executive compensation that typically comes in the form of performance shares or matching shares of the company. In the United States, these plans were used heavily since Internal Revenue Code Section ...

s extended from three years to five. , Fidelity employs over 7,000 people in 24 countries around the world; Australia, Austria, Belgium, Bermuda, Brazil, China (including Hong Kong), Dubai, France, Germany, India, Ireland, Italy, Japan, Korea, Luxembourg, Netherlands, Poland, Singapore, Spain, Sweden, Switzerland, Taiwan, Tunisia and the UK. As of June 30, 2018, London is the company's largest research and investment hub, and the UK is their biggest market. The company is privately owned; the majority of the company is owned by its employees, though the Johnson family still owns a substantial minority of 39.89% according to regulatory filings.Hidden Johnson Billionaires Found in Fidelity Fund Empire
, Brendan Coffey, ''Bloomberg News'', September 20, 2012.

Services

Fidelity offers its own funds and, through its platforms in a number of countries, other managers’ funds. It currently manages or administers over US$300bn on behalf of private individuals and institutions around the world, offering investors the opportunity to further their medium and long-term investment goals.

Controversial investments

Fidelity International has been a major investor in

Hikvision Hangzhou Hikvision Digital Technology Co., Ltd., often shortened to Hikvision, is a Chinese state-owned manufacturer and supplier of video surveillance equipment for civilian and military purposes, headquartered in Hangzhou, Zhejiang. Due to it ...

and

SenseTime SenseTime () is a Hong Kong-headquartered artificial intelligence company with offices in China, Indonesia, Japan, South Korea, Macau, Malaysia, the Philippines, Saudi Arabia, Singapore, Taiwan, Thailand and the United Arab Emirates. The compa ...

, the former a Chinese surveillance technology manufacturer that was sanctioned in 2019 by the U.S. government for enabling human rights abuses in Xinjiang.

References

External links

* {{Authority control Investment management companies of Bermuda Financial services companies established in 1969 1969 establishments in Massachusetts