(January 17 – 15:10 ET) – Fidelity Investments Canada Limited led the industry in net sales in 1999 for the second year in a row says the Investment Fund Institute of Canada. Fidelity’s net sales were $4.9 billion, or nearly 28% of total net sales for the industry, the company said in a prepared statement. Fidelity ranked number one in industry sales in 1998 with net sales of $5.4 billion.
In the past twelve years, Fidelity has grown to become Canada’s fourth largest mutual fund company, managing $28.5 billion in assets, said the Fidelity statement. This compares to assets under management of $18.9 billion in 1998, and $6.2 billion just five years ago when Fidelity ranked eighth in the industry.
Fidelity Investments is Canada’s fourth largest mutual fund company and a
subsidiary of Fidelity Investments of Boston, the world’s largest mutual fund
company. In Canada, Fidelity manages more than $28 billion in assets and
offers Canadian investors a full range of quality domestic and foreign-content
mutual funds.
-IE Staff