August 8, 2019 / 4:07 PM / a month ago

Fidelity's money-market fund assets surged 20% in past year

BOSTON, Aug 8 (Reuters) - Fidelity Investments’ money-market fund assets have climbed $116 billion, or 20%, over the past 12 months as investors embrace higher yields for their idle cash, research firm Crane Data said on Thursday.

At the end of July, Boston-based Fidelity had $710 billion in money-market fund assets, according to Crane. Fidelity is the No. 1 money-market fund provider in the United States. (Reporting By Tim McLaughlin; editing by Jonathan Oatis)

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