The Hindu Business Line : Fidelity bullish on mid and small-cap stocks

Filings with the stock exchanges reveal that the global fund house has been investing in India through several FIIs accounts and its sub-accounts in several companies. The companies in which the fund has made investment this year include Financial Technologies, Saregama, India Bulls and Moschip Semiconductor.

According to analysts' estimates, the fund has made an investment of more than Rs 100 crore in these stocks in 2005.

Fidelity also plans to enter into the domestic mutual fund industry. The fund is scheduled to come out with its first scheme soon.

Stockbrokers who are familiar with the Fidelity's global investment style, say the fund is a long-term investor and invests in companies which have growth potential for at least 5-10 years. In India Fidelity is already a big player in the equity market. This is seen from the 14 FII registrations it has with SEBI since 1995 when it first registered with the market regulator.

There has been a sudden rise in the price of most mid-cap and small cap stocks in the last couple of months. Brokers said this was due to the growth potential of those companies.

Brokers said several market players have now started following the stocks where Fidelity has made investments.

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