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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: SecularBull who wrote (32810)	3/8/2001 5:12:55 PM
From: stockman_scott	Read Replies (1) of 65232

SB: Your friends at Fidelity aren't going hungry...fyi... ______________________________________________________ Fidelity Profit More Than Doubled Thursday March 8, 3:48 pm Eastern Time <<BOSTON (Reuters) - Fidelity Investments, the world's largest mutual fund company, said on Thursday its profits more than doubled to $2.17 billion in 2000, as strong performances at its fund supermarket and brokerage arms offset weak sales of Fidelity funds and market declines. Revenues for the year were $11.096 billion compared to $8.845 billion in 1999 and assets under management at year end dropped to $919.8 billion from $955.1 billion, reflecting declines in the stock market. In 1999, Fidelity earned $1.008 billion in net income. While the profit figure was 115 percent higher than in 1999, the performance of Fidelity's funds was less than stellar. ``Performance of our equity funds relative to their Lipper peer groups was only average for 2000, with our stock funds outperforming 50 percent of their competitors on an asset-weighted basis during the year,'' Fidelity's annual report said.>>

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