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Mr Robert Higginbotham, President, Fidelity International, with Ms Ashu Suyash, Managing Director.

Our Bureau

Mumbai, June 30 Fidelity International has launched FundsNetwork, an online fund platform in the country.

FundsNetwork is a technology powered solution which will provide mutual fund advisors with business tools that will support transactional and reporting requirements as well as planning and guidance needs.

This platform will offer online a range of funds from a number of fund houses.

“Market development and penetration of mutual funds have been severely limited by the smaller number of agents selling funds especially when compared with the insurance industry’s strength in number of agents. The challenge has been further aggravated by poor acceptance of mutual funds among insurance agents,” said Ms Ashu Suyash, Managing Director and Country Head- India, Fidelity Advisers International.

The facility is aimed to help intermediaries to grow their business by allowing them to focus on customer acquisition, advice and relationship management without being concerned about back office and administration issues, she added.

Under the first phase of this initiative, Fidelity Advisers Institute has been launched, which will focus on business coaching for mutual fund advisers and will offer comprehensive training and development programmes for advisers free of charge.

The new facility will specifically also focus on the AMFI certification module, which will help candidates pass the AMFI exam. The training will include both e-learning and face-to face method.

At the same time, mutual fund advisors who are currently selling mutual funds can also avail themselves of other training modules.

“Backed by our experience in international markets, FundsNetwork will be a business partner for mutual fund agents by providing them business coaching to help them grow their business aided by modern practice management tools,” said Mr Robert Higginbotham, President, Fidelity International.

The platform can also be used by individual investors to invest directly or through intermediaries in various mutual fund schemes.

FundsNetwork has a presence in the US, the UK, Germany and Taiwan.

Fidelity Mutual Fund has assets under management of Rs 8,879.73 crore at the end of May 2008.

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