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Edward “Ned” Johnson III, who revolutionised the money-management industry by promoting mutual funds for retirement plans and money market checking accounts while head of Fidelity Investments, has died.
During his tenure at the top, assets jumped to more than $2.1 trillion from $3.9 billion, making Fidelity the second-biggest U.S. mutual fund company.
During his tenure at the top of Fidelity, from 1972 to 2014, assets jumped to more than $2.1 trillion from $3.9 billion.
One of the simplest investments is also one of the best.
Investors in Vanguard target-date funds are suing the company for allegedly causing them to be hit with excessive tax bills.