Tags:
Journalism of Courage
Fidelity India Asset Management, the Indian arm of US mutual fund giant Fidelity, is likely to come out with its first scheme in December. Market regulator Sebi has approved the fund8217;s application. However, the mutual fund has not announced any date for the launch.
Fidelity had appointed Ashu Suyash as business head of India operations and Arun Mehra as equity fund manager in 2003. Fidelity is only top mutual fund which has not started operations in India while others like Merrill Lynch, Morgan Stanley and Franklin Templeton are active in India.
It manages assets of 141.5 billion for non-US investors under mutual funds and pension funds. Fidelity Fund Management Pvt Ltd is an arm of Fidelity International Ltd, which, along with Fidelity Management 038; Research Company of Boston, has 1,200 billion assets under management.
