BOSTON Feb 16 Fidelity Investments said on
Thursday its financial services operating profit rose 19.5
percent to $3.5 billion in 2016, despite massive withdrawals of
investor money from its actively managed stock funds.
Boston-based Fidelity, which is controlled by the family of
Chairman Abigail Johnson, said 2016 revenue was $15.9 billion,
an increase of 3.4 percent over 2015.
Fidelity's actively managed equity mutual funds saw $57.7
billion in net outflows during the year. These outflows were
offset by $19.1 billion of flows into managed account products,
$22.6 billion of flows into money market funds, and $16.1
billion of flows into Fidelity index funds.
(Reporting By Tim McLaughlin; Editing by Chizu Nomiyama)