Fidelity, the nation’s largest retirement savings and investment company, reported Thursday that its 2018 returns are well above what analysts expected.
In a note to clients, Fidelity said it expects its 2018 performance to be in the range of 10% to 20% above historical averages.
Fidelity is one of the best performers in the sector, according to Vanguard, the biggest U.S. mutual fund provider.
Vanguard said its 2018 index fund performance was higher than its benchmarks for the past three years.
The stock rose 3% on the Nasdaq.
Fitch Ratings upgraded Fidelity to a B+ from a B. Investors should watch for “signs of a possible rebound in the markets and for the continued positive momentum of the stock,” the agency said.
Fiduciary Trusts and other financial institutions are among the best-performing funds in the industry, and their performance has increased significantly in recent years.
Vanguard, Fidgy and the investment firm that owns Fidelity have seen their performance improve since 2014, when the agency downgraded the fund to a C. Fits of Fidelity’s performance, the index, have climbed in the past two years, as have other Fidelity funds.
Fierro, a Boston-based asset manager, said in its note that its performance is a result of the increased number of investors, as well as the growing number of institutional clients.
Fisler, the investment company that manages assets for some of Fidhiys portfolio, also said it has seen its performance improve.
“The industry is clearly evolving,” said John Fislers, the Fisblers managing director.
“I think we’ve been on a roll.”