Fidelity executives supported the institute's argument, but the commission has not yet taken any action in response.

But Fidelity executives have a better reason to cheer.

A Fidelity executive called him in response and agreed to the change, confirming it in writing, he said.

Fidelity executives attribute the improvement to technological enhancements and strengthened research capabilities.

Fidelity executives say they want to remedy that.

"As a female Fidelity executive, I feel comfortable in saying that our goal is to hire on talent and nothing else," she said.

Fidelity executives have been in regular touch with the leading theorists of corporate activism, though often from a discrete distance.

Fidelity executives say they are not bothered when customers choose other funds.

Fidelity executives said they sold more retirement plans to small businesses through efforts outside the chamber.

At the time, relative performance of its big stock funds was off, almost across the board, and Fidelity executives were feeling the heat.