First the fund managers were never available to the buyer for the INR 90 bln fund (AUM) trying to attract bids , and even at INR 3.6 bln looking overpriced coming as it is without management staff and despite existing houses having already employed sales & marketing , having to absorb the national sales and marketing infra with people in to the existing superstructure put away most investors from bigger fund houses.

Though the fund could have wanted to sell for INR 6 bln, it apparently did not get offers. Also the Fidelity MF may well have to listen to the fund management staff id dinot wan t to farm , as they want to use the current rally to buy back profitability into the Mutual Fund

Posted via email from The India Investment Post