Fidelity's Income Rises 54% Even as Active Outflows Persist
- Redemptions in active products reached $47 billion in 2017
- Yet the firm’s mutual funds beat more than 75% of peers
This article is for subscribers only.
Fidelity Investments said operating income surged 54 percent last year even as investors pulled money from its actively-managed stock mutual funds.
The mutual fund giant earned $5.3 billion, up from $3.4 billion in 2016, according to the company’s annual report released Tuesday. But its active funds continued to suffer outflows of $47 billion last year.