A strategic review under way; all options open, says the fund house.
Fidelity is said to have initiated the process of selling off its India business, according to reports.
When contacted, this is what the Fidelity spokesperson told us:
"Fidelity Worldwide Investment is conducting a strategic review of its onshore asset management business in India; as with strategic reviews all options are being covered. The review is underway and it is too preliminary to discuss any outcome.
We remain fully engaged in and committed to the process of successfully managing money for clients using all the resources of the company as required. In addition, the outcome of this review will take full account of our fiduciary duty to, and the interests of, our clients."
Fidelity is ranked no. 15 by AUM size and equity assets account for nearly 70% of its assets.
