Published on Mon, Jan 30, 2012 at 20:00 | Source : CNBC-TV18
Updated at Tue, Jan 31, 2012 at 12:07
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Fidelity in talks to sell India mutual fund biz
CNBC-TV18 reports that only a "strategic review" with onshore businesses of Fidelity Investment's asset management arm in India is going to be put on the block.
Fidelity Investments is in talks to sell its India mutual fund business, a report on a news website said, citing a person with direct knowledge of the development.
Fidelity is seeking a valuation of 10 billion rupees for the asset management arm, the report said, adding the assets may attract interest from a large number of fund houses including Goldman Sachs Asset Management Company.
However, CNBC-TV18 reports that only a "strategic review" with onshore businesses of Fidelity Investment's asset management arm in India is going to be put on the block.
Also watch the accompanying video for Mitra Joshi's report.
Fidelity started operations in India in 2004 and the current assets under management amounts to nearly Rs 9000 crore as of December 31, 2011. Fidelity has 15 scehemes out of which six are equity schemes and rest are debt schemes.
