Fidelity is unloading its mutual fund business in India, unable to make money after 8 years...

|By:, SA News Editor

Fidelity is unloading its mutual fund business in India, unable to make money after 8 years despite industry assets there that have boomed to $134B. "It's a very worrying sign that a player like Fidelity is getting out," says a Morningstar analyst. To blame are the company's high pay structure and marketing costs, along with volatile stocks that have investors moving to bond funds.