Privately held Fidelity Investments 2009 annual report indicated a 5% increase in operating profit to $2.51 billion, up from $2.39 billion in 2008, excluding interest expenses and taxes.
Fidelity CEO and Chairman Edward “Ned” Johnson III issued a letter to shareholders attributing the growth to distribution operations and performance. Fidelity’s mutual funds outperformed 74% of their peers, the company said, up from 56% the year before.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access