Fidelity Asset Management

Fidelity picks 3.62% stake in Satyam

Fidelity picks 3.62% stake in SatyamFidelity, one of the leading asset manager has raised its total stake in beleaguered Satyam Computer to 6.79 per cent, which would potentially make it the second largest stakeholder.

Fidelity, which already held 3.17 percent, bought additional 3.62 percent stake in Satyam on Wednesday.

Larsen & Toubro, India's biggest engineering company, which trebled its holding in Satyam last week to 12 percent, is the largest stakeholder.

Fidelity Fixed Maturity Plan opens for subscription on September 15

Fidelity Asset Management Company has announced the new fund offering (NFO) of its Fidelity Fixed Maturity Plan, Series 1 - Plan C in the Indian market.

The latest scheme is a close-ended debt scheme, with duration of 370 days from the date of allotment of units. The NFO opens for subscription on September 15, 2008 and will close on September 22, 2008.