My colleague Emma Dunkley is the FT's asset management reporter.
That means she writes a lot about the major asset managers, groups like Vanguard and BlackRock.
These are all massive financial institutions,
so she's pretty used to seeing some big figures when she reports on these company's annual results.
But earlier this year, she came across something that surprised even her.
So we saw some staggering numbers.
as one of the financial services firms in the US reported $32.7 billion of revenues last year.
And we were actually blown away by this
because the revenues turned out to be 50% or so more than the amount that BlackRock,
the world's largest asset manager, had reported.
And that wasn't the only figure that surprised her.
And then in the second quarter of this year,
the company showed assets under management of $6.4 trillion,
which positions it as one of the largest asset managers globally.
These figures come from the US-based group Fidelity Investments.
Now, Emma knew Fidelity a bit, but not as well as some of its competitors she covers regularly.
I knew it was a large asset manager in the US,
but they certainly don't caught attention like their higher-profile rivals.
And that got me and the editors thinking.
We don't actually do a huge amount on Fidelity and they're not hugely well known.