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New Products Help Fidelity Investments Parent Boost 2018 Profit

TedTed
in The Bullpen
FYI: Fidelity Investments parent FMR LLC 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.
Regards,
Ted
https://www.reuters.com/article/usa-funds-fidelity/update-1-new-products-help-fidelity-investments-parent-boost-2018-profit-idUSL1N20G1ML
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