Fidelity Investments’ operating profit rose 17% in 2010 to nearly $3 billion, up from $2.51 billion in 2009, driven by strong mutual fund sales and brokerage business. The company released the information in its annual report to private shareholders.

Revenue rose nearly 7% to $12.3 billion, up from $11.5 billion the year before. And assets under management rose 6% to nearly $1.6 trillion, primarily due to the S&P 500’s 15% gain in 2010. Total assets under administration rose 8% to $3.5 trillion.

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