Summary Box: Fidelity 2011 profit rises 13 percent

Summary Box: Fidelity's 2011 profit rises 13 percent despite decline in money management total

Associated Press

FIDELITY'S BOTTOM LINE: Fidelity Investments says its operating income rose 13 percent in 2011 to $3.3 billion. It was the third consecutive year of rising profits for the privately held company after a slowdown during the financial crisis.

MIXED FORTUNES: Fidelity reported gains in its brokerage and workplace savings businesses. Those improvements helped offset weakness at Fidelity's mutual fund business, including a 4 percent decline in investment assets that Fidelity manages.

LIMITED DISCLOSURE: The Boston-based company reports limited financial data in an annual report released to its private shareholders. Fidelity is the nation's second-largest mutual fund company, behind Vanguard.

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