Fidelity Top Brass Spins Falling Revenue into Increased Profits
Reported by Armie Margaret Lee
Fidelity Investments chalked up operating income
of $2.5 billion last year, up 5 percent from 2008, Reuters reports.
The increase was driven mainly by cost-cutting efforts.
The Boston Behemoth pulled in revenue of $11.5 billion,
down 11 percent from the year before.
Fidelity saw net inflows of $31.4 billion to its funds in 2009.
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