Fidelity Investment Management, one of the UK's largest fund management groups, boosted revenues by a third last year on a sharp increase in management fees and an expansion of its retail distribution platform.

The rise in revenue to £756m (€1.1bn) outperformed institutional manager Capital International, owned by Capital Group of the US. According to its most recently filed accounts, Capital's revenue rose 16.8% to £207m in the year to June 30.