Fidelity India fund breaks $1bn mark

Seven months after its launch in August 2004, the Fidelity Investments India Focus Fund has broken through the $1bn assets under management mark. Managed by Michael Gordon, chief investment officer for the Asia Pacific ex-Japan region, the fund invests primarily in shares listed in India and also holds the stocks of non-Indian companies which draw a large part of their income from the country. Gordon is supported by an investment team based in Mumbai. The fund typically holds between 80 and 100 stocks and takes a long-term approach to investing. The portfolio is tilted towards small and...