UPDATE 1-Fidelity profit up 5 pct but revenue slips

Newswire

* Operating income $2.5 bln * Total revenue falls 11 pct to $11.5 bln * Net postive flow of $3.8 bln to equity funds BOSTON, Feb 25 (Reuters) - Privately held Mutual fund giant Fidelity Investments said its operating income rose 5 percent to $2.5 billion in 2009, thanks largely to cost-cuts, but total revenue slid 11 percent to $11.5 billion. Average assets under management for the year were 6 percent below the 2008 average, the Boston-based company said in its annual "shareholder ...

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