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Fido off 11%~News piece
Old 02-17-2007, 10:03 AM   #1
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Fido off 11%~News piece

Fidelity net fell 11% in 2006
Fidelity Investments announced today that net income fell 11% last year -- despite higher revenue and managed assets -- due to factors including a rising headcount, advertising and special charges.
I wonder if this loss is a result (partially) of Fido decreasing the ER of many of the funds that compete well with Vanguard?


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Re: Fido off 11%~News piece
Old 02-17-2007, 10:07 AM   #2
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Re: Fido off 11%~News piece

Don't think so........they had higher revenue.

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Re: Fido off 11%~News piece
Old 02-18-2007, 10:03 AM   #3
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Re: Fido off 11%~News piece

Maybe it's the $42M fine they paid for shady practices of thier traders................

sorry it appears the links not working, but there are several documents dated 12/21/06 in their news archives..........

Under the terms of the settlement with the Independent Trustees, Fidelity has made arrangements to pay $42 million plus interest to the Fidelity Mutual Funds based on an allocation formula to be agreed to with the Independent Trustees
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
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