Fidelity Fund appoints debt, equity fund managers

Fidelity Fund Management, the Indian arm of Fidelity International, has appointed Rajesh Singh as equity fund manager, the mutual fund said Monday.

Singh was earlier equity fund manager of Fidelity Hong Kong. The fund house has also appointed Franklin Mutual's former head-fixed income, Sameer Kulkarni, as debt fund manager.

Fidelity India country head Ashu Suyash said: "I am delighted with the expansion of our investment team and with the setting up of our fixed income business. It is in keeping with our long-term charter of offering investors a suite of products that can meet with their growing and distinctive needs."

Rajesh Singh has been with Fidelity since 2000 and was managing Fidelity's Global Financials Fund.

Andrew Wells, Chief Investment Officer-Asian Fixed Income, Fidelity International, said: "Given the tremendous response to our equity funds over the last year, we are now preparing to offer Indian investors fixed income products to help them diversify their portfolios. With his experience and expertise, Sameer will be a key contributor to the building of our fixed income portfolio in India."

Kulkarni was earlier associated with IndusInd Bank as money market dealer and head of fixed income.

Fidelity Fund Management, which launched its first scheme Fidelity Equity Fund in April 2005, has emerged as India's largest equity scheme, with assets worth Rs 29.29 billion.

The mutual fund has launched its second scheme, Fidelity Tax Advantage Fund in January. It also manages a multi-manager liquid fund of funds scheme.

Recently, the fund house filed offer document for third offering""Fidelity India Special Situations Fund.