Standard and Poor’s (S&P) has placed Fidelity Investment’s India Fund ‘on hold’ after its portfolio manager was replaced during a review of the fund’s investment style and process.
Teera Chanpongsang has take over responsibility for the portfolio from the former manager Arun Mehra. Chanpongsang has more than 15 years experience as an analyst and portfolio manager in Asian stocks.
“Fidelity permits its portfolio managers a large degree of flexibility in their management of the funds, which is integral to the rating. Consequently, the fund will be placed ‘on hold’ until S&P has had an opportunity to meet with Mr Chanpongsang and observe the impact of the changes on the fund over several months,” said S&P fund services analyst Tara Bell.
