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Obituary

Edward Johnson III, Fund Pioneer at Fidelity, Dies at 91

  • Assets rose to $1.6 trillion from $3.9 billion during tenure
  • ‘He created the financial supermarket,’ said Peter Lynch
Ned C. Johnson III and Abigail Johnson in Merrimack, New Hampshire in 2004.

Ned C. Johnson III and Abigail Johnson in Merrimack, New Hampshire in 2004.

Photographer: Brooks Kraft/Corbis/Getty Images
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Edward “Ned” Johnson III, who revolutionized the money-management industry by promoting mutual funds for retirement plans and money market checking accounts while head of Fidelity Investments, has died. He was 91.

He died on March 23 in Florida, according to Fidelity. No cause was given. He was a resident of Wellington, Florida, according to the firm.