The Ephemeral Life of an Emerging Fund Manager

E X H I B I T 8 Total Assets per Product (U.S.$ billions)

Source: Fidelity platform, September 1, 2015: 16,660 listed mutual funds and ETFs.

E X H I B I T 9 Total Assets per Investment Company

Source: Fidelity platform, September 1, 2015: 16,660 listed mutual funds and ETFs.

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T HE E PHEMERAL L IFE OF AN E MERGING F UND M ANAGER

W INTER 2015

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