Fidelity gets Sebi nod for MF launch

Fidelity, the world's largest fund house with assets under management of over $1.2 trillion, has got Sebi approval for launching mutual funds in India.

"Fidelity Fund Management, the Indian arm of Fidelity International, has received the certification of registration from Sebi," an official release said today.

Ashu Suyash, head of business of Fidelity Fund Management, said: "We are pleased to receive the approval from Sebi, and will launch the first Fidelity fund in India shortly."