Last year was a good one for a certain Boston fund firm. Industry giant Fidelity said Monday morning that its net income grew 12 percent from 2002, according to a Reuters report. A Fidelity spokesperson was not immediately available for comment.

Fidelity annually releases an annual report to shareholders and the media but is privately held .

Earnings at the Boston Behemoth grew to $908 million in 2003 from $808.2 million in 2002.

The bottom line boosted boosted both by the rising stock market and Fidelity's efforts to trim costs. However, total assets managed at the firm rose only three percent to $876.2 billion despite the strong gains in the stock market in the second half of the year. 

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