Fidelity Worldwide Investments will be “one of the strongest players” in the post-pensions freedoms world, winning more assets than rivals, a new Moody’s report claims.
The asset manager’s open architecture platform, its investment in technology and its work on customised investment solutions means it is likely to win among the fierce competition in the market, says Soo Shin-Kobberstad, senior analyst at Moody’s.
”[Fidelity’s] early strategic moves into the UK retirement investment space has positioned the firm to take advantage of expanded opportunities created by the UK’s 2015 pension reform,” says Shin-Kobberstad.
“Among the independent asset managers, [Fidelity] will likely emerge as one of the strongest players in this new market, given its early start and significant investments in technology,” adds Shin-Kobberstad.
“We expect [Fidelity] to emerge as one of the strongest players in the retirement market, given its early start and significant investments in technology,” adds Shin-Kobberstad. “However, competition is heating up, with other asset managers ramping up their offerings of multi-asset products.”
In particular, Fidelity was praised for its open-architecture platform, which means more than half of the assets with the asset manager’s UK retail and DC clients were managed by third-party providers.