Abigail Johnson, president of Fidelity Management & Research Co, and her father Fidelity Chairman EdwardC. Johnson III applaud as President George W. Bush speaks to company employees about the economy. | Location: Merrimack, New Hampshire, United States.Edward C.
Johnson "died peacefully on March 23, 2022, surrounded by his loving family," Fidelity said in a press release. A representative added Johnson died of natural causes. On his watch Fidelity transformed personal investing through the use of new technologies like telephone services and by promoting famous fund managers like Peter Lynch, the former manager of Magellan Fund.
In later years, Fidelity's actively-managed funds lost ground to cheaper passive products from rivals like BlackRock Inc. Fidelity still ran $4.5 trillion across all its managed investment products as of its latest shareholder letter for 2021.
Source: News Formal (newsformal.com)
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