Fidelity gets Sebi approval

Fidelity Fund Management Pvt Ltd, the Indian arm of the world8217;s largest fund manager with over 1,200 billion assets under management as of December 31, 2004 has received the certificate of registration from the Securities and Exchange Board of India Sebi to launch its mutual fund products in India.

The fund has also filed its draft prospectus for its maiden equity fund with the regulator. The first diversified equity scheme is expected to hit the market in mid-March.