SECURITIES

Fidelity to Open Trust Company in Los Angeles: Fidelity Investment Co., the nation’s biggest mutual fund company, said it is opening a trust company for state residents who have at least $400,000 in investable assets. The formation of Fidelity Management Trust Co. of California marks the first time the company created a trust company outside the state of Massachusetts. Trust companies provide personal trust and investment management services, as well as guidance on estate planning. In California, Fidelity’s Los Angeles-based trust company will be competing for business against companies such as BankAmerica Corp., Wells Fargo & Co. and Northern Trust Co. Fidelity has offered personal trust services to consumers since 1993, but not in California.