You are here: Home » Reuters » News
Business Standard

New products help Fidelity Investments parent boost 2018 profit

Reuters  |  BOSTON 

BOSTON (Reuters) - 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. (Reporting by Ross Kerber; Editing by Chizu Nomiyama)(This story has not been edited by Business Standard ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Thu, February 21 2019. 23:47 IST
RECOMMENDED FOR YOU