Fidelity Investments in talks to sell India mutual fund business

In our 2012 Predictions, we had talked about the tenuous situation with the Forex reserves of India and the whims and fancies of the Foreign Investors.

Well, here is an example – which, hopefully, will not become a trend – otherwise India might face a forex crisis sooner than later.

Its time the politicians and the business in India woke up to the reality that faces them in the coming years.

Fidelity Investments is in talks to sell its India mutual fund business, a report on the Economic Times website said citing a person with direct knowledge of the development.

Fidelity is seeking a valuation of Rs 1,00 crore 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.

via Fidelity Investments in talks to sell India mutual fund biz: report | Firstpost.