Fidelity Billionaire Johnson Taps ETFs as Profits for Funds Fade


When Abigail Johnson began her apprenticeship at Fidelity Investments 25 years ago, the Boston-based firm founded by her grandfather was the nation’s biggest mutual-fund company and star manager Peter Lynch was enjoying a performance streak at the Magellan Fund -- a 29 percent average return over 13 years -- that ranks among the best in the industry’s history.

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