Fidelity to come out with new fund offers shortly

Mumbai, Jun 30 (UNI) Fidelity international will, in the next few months, come out with two new fund offers (NFOs) including a global mix, its Managing Director and Country Hed India Ashy Suyash said today.

Talking to newsmen at the launch of the first phase of its new business initiative, FundsNetwork in the form of Fidelity Advisers Institute here, she said that during the four years of operations the Company had built an asset base of Rs.8000 crore with the number of customers crossing 1.5 million. The Company was into the country as a long term investment basis and does not cosnider the Rs.1.2 crore had had lost in 2007-08 as a loss, she said adding that the company wa still on an investment phase.

Fidelity Advisers Institute would offer comprehensive training and development programmes for advisers free of charge. this would include both e-learning and face to facae training from a panel of trainers on a range of subjects, including marketing, holistic financial skills and soft skills. She said Fidelity centre for excellence would focus on business coaching and practice management with programmes tailored to help MFAs grow their business. The Fidelity Advisers Institute would also seek to bring in new advisers b helping them learn about mutual funds and becoming registered agensts with Association of Mutual Funds of India.

She said market development and penetration of mutual funds ahd been severely limited by the small number of agents selling Funds, especially when compared to the insurance industry's strength of enarly 3 million agents. The challenge had been further aggravated by poor acceptance of mutual funds among insurance agents.

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