In 2004, Fidelity established its first presence in India by opening an office in Mumbai. However, their offices in India generally serve the back-office function and do not make investment-related decisions.  The company employs more than 4,000 people in India. The second largest software development plant (after the United States) is located in Bangalore and Chennai. Fidelity Investments operates a large brokerage firm and has investor centers at more than 140 locations in the United States. Through its subsidiary National Financial Services LLC, Fidelity Investments provides services to its correspondence brokers, institutional investment firms, banks and trusts, family offices and registered investment advisors, including brokerage clearing and back-office support, as well as a number of software products for financial services companies. As of September 30, 2010, National Financial was the custodian of more than $443 billion in assets in 4.3 million accounts.  In May 2007, NASD fined two fidelity brokers $400,000 for preparing and disseminating misleading sales literature to promote Fidelity and II Systematic Investment`s investment plans, which were sold primarily to the U.S. military. As part of this comparison, FMR partners were required to inform Destiny Plan holders, who wish to increase their investments in existing Destiny plans, that additional units of the underlying fund could be acquired outside Destiny plans without paying the additional selling costs.  The Johnson Founding Family individually owns shares representing a 49% interest in FMR individually and through various trusts and has signed agreements in which it undertakes to choose all of its shares as a block. Edward Johnson III was chairman of the group, but was replaced by his daughter Abigail Johnson. Abigail was once the largest single shareholder with about 25% of the shares, but in October 2005 it was reported that she had sold a „considerable” share of her shares in family trustees and that there were doubts as to whether she was still on track to follow her father.
 In 2001, Geode Capital Management was created to exploit and incubate investment strategies for FMR. In 2003, it was relocated as a separate company.  Fidelity Investments Inc. is a U.S. financial services company based in Boston, Massachusetts. Founded in 1946, the company is one of the world`s largest asset managers, with assets under management of $4.9 trillion as of June 2020 and a total value of $8.300 billion in client assets.   Fidelity Investments operates a brokerage firm, manages a large family of investment funds, advises on fund distribution, old age pension, index funds, asset management, cryptocurrency, execution and customs clearance, asset retention and life insurance.  The same Reuters survey documents six cases (out of 10) in which Fidelity Investments became one of the largest investors in F-Capital companies after the start-ups went public.