Mumbai, Maharashtra, India
Fidelity International today announced a re-organisation of its India investment team. Sandeep Kothari, who is currently a Portfolio Manager with Fidelity Hong Kong, is relocating to India to join the India investment team.
In India, Sandeep will assume responsibility as the Fund Manager for Fidelity Equity Fund and Fidelity Tax Advantage Fund effective July 1, 2006. He will report into Kathryn Matthews, Chief Investment Officer, Asia Pacific, Fidelity International.
Sandeep brings with him a wealth of experience having managed Indian equities as well as a global perspective gained while managing Fidelity's offshore India funds. He joined Fidelity International in 2002 and has covered Indian equities since 1993. Prior to joining Fidelity, Sandeep has worked at CLSA Emerging Markets, Dresdner Kleinwort Wasserstein and James Capel B&K as senior Investment Analyst.
Arun Mehra, who was responsible for setting up Fidelity's investment team in India, is relocating to the UK where he will assume responsibility for managing Fidelity's offshore Indian equity portfolios. He will continue to work closely with Fidelity's India-based equity analysts and portfolio managers.
Commenting on the re-organisation, Arun Mehra said: "It has been very satisfying to have been part of the team that started Fidelity's onshore operations in India and to have built the investment team here. I am looking forward to continuing to work closely with them."
Kathryn Matthews, Chief Investment Officer, Asia Pacific, Fidelity International, said: "We see growth opportunities in India and will continue to expand the team. Sandeep has advanced through the proven Fidelity process for developing fund managers and as an experienced manager of Indian equities, we believe that he will provide excellent continuity to the strong track record of Fidelity Equity Fund and Fidelity Tax Advantage Fund."
Sandeep Kothari, Fund Manager, Fidelity International, said: "It is an exciting time to be in India and our asset management operation here has made an impressive start. I am delighted at the opportunity to be a part of the team in Mumbai and to be able to contribute to the growth of the business here."
Fidelity's India investment team continues to grow its resource base. From a standing start of one fund manager and two analysts in 2004, Fidelity now has two equity portfolio managers and five equity research analysts in Mumbai. In addition, there are about sixteen analysts in Hong Kong who research companies in the Asia Pacific region, including India, and eleven sector specialists based out of its offices in Delhi. Also based out of Mumbai, is one fixed income fund manager and two credit analysts.
Fidelity Fund Management Private Limited is the Indian arm of Fidelity International Limited. Fidelity International Limited has offices in over 20 countries across Europe and Asia-Pacific. Fidelity International along with its US affiliate, Fidelity Management and Research Co., actively covers 95% of world market capitalization. Central to Fidelity's success is a pioneering spirit, a commitment to innovation that sets new industry standards and an unmatched investment in research, talent and technology. Driven by an entrepreneurial culture, Fidelity is known to actively pursue investor education and distributor training, which it has also begun in the country.
Risk Factors: ▪Mutual funds, like securities investments, are subject to market risks and there is no guarantee against loss in the schemes or that the schemes' objectives will be achieved. ▪As with any investment in securities, the NAV of the Units issued under the schemes can go up or down depending on various factors and forces affecting capital markets. ▪Past performance of the Sponsor or the AMC or the mutual funds managed by the Sponsor does not indicate the future performance of the schemes. ▪All the schemes shall be subject to the risks associated with the instruments in which they invest. Please read the offer document of the respective scheme before investing. Statutory Details: Fidelity Mutual Fund ('the Fund') has been established as a trust under the Indian Trusts Act, 1882, by Fidelity International Investment Advisors (liability restricted to Rs. 1 Lakh). Fidelity Trustee Company Private Limited, a company incorporated under the Companies Act, 1956, with limited liability is the Trustee to the Fund. Fidelity Fund Management Private Limited, a company incorporated under the Companies Act, 1956, with limited liability is the Investment Manager to the Fund. Contact Details: Investors can contact Investor Service Centres at the toll-free number "1 800 180 8000".
CI00374
Anjali Patil, Fidelity Fund Management Pvt. Ltd., +91 (022) 6655 4015 anjali.patil@fidelity.co.in
Sandesh Advani, IPAN, +91 (022) 2266 1755/ +91 98201 94678 sandesh@ipan.com
Source: Fidelity International (Business Wire India)
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