Fidelity Investments reported today that it added $40.5 billion in defined contribution assets under administration in the first half of this year. This is an increase of nearly 60 percent over the 2012 first-half figure of $25.5 billion.
Overall sales for the first half of the year represent 606,000 new participants in 652 workplace plans. During the first six months of 2013, the tax-exempt market generated $8.8 billion in sales, a 250 percent jump in sales over the same period last year.
In addition, the Boston-based firm renewed $68 billion in assets under administration with existing clients, some 992,000 participants, in the first half.
Strong growth was noted across all sizes of employers and types of industries, ranging from smaller, emerging companies to larger Fortune 100 companies, the firm reported.