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Article: Fidelity keeps the faith. (Fidelity Investments)
- Article from:
- The Economist (US)
- Article date:
- May 21, 1988
CopyrightCOPYRIGHT 1988 Economist Newspaper Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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FIDELITY Investments, a private, family-run company based in genteel Boston, is an example of how to make money out of private clients in a way that the big securities houses have cause to envy. In the 1950s and 1960s Fidelity ran funds that were marketed by others-that is, by retail brokers. That stopped in the 1970s when stockbrokers began to market their own funds, so Fidelity (like other firms such as Dreyfus, Puttnam and T. Rowe Price) was left to fend for itself. The rude awakening was its blessing. Aiming to attract the richer, more savvy investor, it now has $81 billion of mutual funds in its care.
Although Fidelity is building up its own branch network ...