The real estate investment adviser for President Donald Trump and his family’s financial advisory firm, Fidelity Investments, is making a $2 million return on his investment of $1.9 million, according to an audit released on Monday by the Federal Reserve.
The audit by the New York Fed’s Office of Investor Education and Advocacy said the return on investment of Mr. Trump’s investment of nearly $2.9 billion over a decade is just as high as other real estate investments made by the president’s family over the same period.
The firm’s chief investment officer, Robert Riggs, is worth $7.8 million.
Mr. Riggs is currently managing about $7 million in Fidelity funds.
Mr: “His portfolio is one of the best in the world, it’s outperforming the entire market,” said the New Jersey state auditor.
“The returns that he’s getting are just as great as any asset in the country.”
Fidelity has also reported a $3.2 million increase in annual operating income, and a $4.4 million gain in its market capitalization over the last three years, as the firm’s business continues to grow and diversify.
The Federal Reserve’s audit of Fidelity, released last week, did not disclose any financial assets or investments by Mr. Donald Trump, but it did say the president has used his investments for “personal use.”
Failing to disclose that Mr. Paulson has invested in FTL’s investments, the audit also said the president may be able to use his own income and assets to pay for “special interest group activities” that may have been prohibited under federal securities laws.
Mr Trump has said his investments are “worth hundreds of millions of dollars” and have outperformed other asset classes and are “not for the faint of heart.”
The president has previously said his family is “getting a great return.”
The audit does not mention Mr. Manafort, the former Trump campaign chairman, as an investor in FLL’s funds, but said he was listed as the president “on the balance sheet.”
Mr. Mnuchin, who has been a regular contributor to the president and his administration, did disclose that he has invested more than $2 billion in FPL since its founding in 2015.
The report also noted that FPL has made $5.2 billion of assets available to the Trump family and its allies, and that it has received a $8.6 million grant from the Treasury Department to help fund the Trump Organization’s projects, including its hotel, golf course and theme park.
The president is still a major contributor to FPL, but he has been more hesitant to give up ownership stakes in his own businesses.
Mr Manafort’s wife, Linda, and Mr. Kushner, who is also the president of the Trump Organisation, have a majority stake in the firm.
The Office of Government Ethics, which is overseeing the investigation into whether Mr. Pence violated the Hatch Act, is also investigating the financial disclosure forms for Mr. Mueller.