October 21, 2014 6:33 PM ET

Capital Markets

Company Overview of Fidelity Management Trust Company

Company Overview

Fidelity Management Trust Company (FMTC) is a privately owned investment manager. The firm provides its services to corporate and public retirement funds, endowments, foundations, and other institutions worldwide. It manages mutual funds and REITs for its clients. The firm invests in the public equity, fixed income, and real estate markets across the globe. It invests in stocks of small-cap, mid-cap, and large-cap companies. Fidelity Management Trust was founded in 1981 and is based in Boston, Massachusetts. Fidelity Management Trust Company operates as a subsidiary of Fidelity Investments.

82 Devonshire Street

Boston, MA 02109

United States

Founded in 1981

Phone:

617-563-6031

Key Executives for Fidelity Management Trust Company

Senior Vice President and National Sales Director
Senior Vice President of Consultant Relations
Compensation as of Fiscal Year 2014.

Fidelity Management Trust Company Key Developments

Federal Appeals Court Affirms Dismissal of Lawsuit Against Fidelity Management Trust Company Regarding Excessive Fees

A federal appeals court affirmed the dismissal of a lawsuit against Fidelity Management Trust Company regarding excessive fees. In the case of Danza v. Fidelity Management Trust Co. (2013 WL 3872118), the 3rd U.S. Circuit Court of Appeals found that the U.S. District Court for the District of New Jersey was correct in dismissing the suit which alleged Fidelity violated various provisions of the Employee Retirement Income Security Act (ERISA) by charging participants of Danza's retirement plan excessive service fees for reviewing Domestic Relations Orders (DROs). The third Circuit said Danza needed to prove that a prohibited transaction occurred between the plan and a party of interest, with parties of interest including fiduciaries, employers, employees, service providers and certain stockholders. The court pointed out that while Fidelity is currently a party of interest as a service provider of the plan, it was not at the time the trust agreement was signed. Finally, the court found that at the time Danza was charged the DRO fee, the fee structure was set and Fidelity lacked discretion to change it" and therefore was not in violation of Section 406(b).

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