Feb. 24, 2005 — Fidelity Investments said its sales of mutual funds that are sold by financial advisors increased 31% to $6.1 billion last year as it added more funds and advisors to distribute them.
The company said it launched eight Advisor funds in 2004, bringing the family total to 73, and was managing nearly $200 billion in those offerings at the end of the year, an increase of 11% over 2003. Overall, Fidelity said it was managing $1.1 trillion in assets at the end of 2004.
Fidelity said it added more than 21,000 advisors to distribute the funds, bringing its year-end total to a record 47,000, a 26% increase over the previous year.
Contact Bob Keane with questions or comments at: bkeane@investmentadvisor.com.
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