Fidelity to launch mutual funds

By agencies   |   Friday, 18 February 2005, 08:00 Hrs
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MUMBAI: US based Fidelity Fund Management Private Limited today said market ombudsman had permitted it to launch its mutual fund products in India. Fidelity has received the certificate of registration from the Securities and Exchange Board of India (SEBI).

"We are pleased to receive the approval from SEBI and will launch the first Fidelity fund in India shortly," said Ashu Suyash, head of business of Fidelity Fund Management.

"We believe the mutual fund business will record substantial growth in the years to come and we look forward to playing a significant role in it," he added.

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