Fidelity’s India fund 'on hold'
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.
Recommended for you
A former Sydney investment manager has pleaded guilty to two counts of insider trading regarding a potential takeover of Platinum Asset Management, having acquired $2.6 million of Platinum shares.
As the firm enters a new growth phase, Orbis Investments managing director Jason Ciccolallo has said it is looking to strengthen relationships with retail advisers to align with the firm’s institutional reputation.
The former director of United Global Capital has received a decision from the Administrative Review Tribunal regarding an appeal of his 10-year ban from providing financial services.
AMP-owned North has announced a senior manager appointment as the platform explores growth opportunities in its addressable adviser market.
