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Chennai April 24 Fidelity International has moved towards the practice of disclosing its funds' complete portfolios on a monthly basis.

The fund house, until recently, disclosed its portfolios only on a half-yearly basis, while a truncated snapshot of its holdings was made available every quarter. This was in line with Fidelity International's global disclosure policy.

This practice of quarterly disclosure was at variance with several other Indian fund houses who have been disclosing their portfolios through monthly fact sheets.

Fidelity has all along contended that frequent disclosures could hamper the process of fund management, as it could help other investors' borrow the house's investment ideas, to the detriment of its unit holders. However, since March 2007, Fidelity's disclosure policy has undergone a change at the global level. Their frequency of disclosures has been increased to a monthly basis, although with a 30-day lag. This will apply to India as well. The fund house sees the 30-day lag as a means of balancing between the need for disclosure and protecting the financial interests of investors in their funds.

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