New products help Fidelity Investments parent boost 2018 profit
New products help Fidelity Investments parent boost 2018 profit
Fidelity Investments parent FMR LCC said its 2018 operating profit rose 18.6 percent to $6.3 billion as new products like no-fee index funds helped the Boston mutual fund firm counter falling markets that reduced its total assets.
Fidelity reported revenue of $20.4 billion, up 11.5 percent from the prior year, even as assets under management fell 1 percent to $2.42 trillion, according to an annual report sent on Thursday by a spokesman for the closely-held company.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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