India well placed to benefit from improving int'l mkt: Fidelity

Fidelity International said attractive share valuations indicate the bearish phase in global markets may be over and India is well placed to benefit from the improving global environment.
"My belief that the market is bottoming out is underlined by attractive valuations, market sentiment and by looking at current market conditions in relation to the historical bear and bull market cycles," Fidelity International President Investments Anthony Bolton told reporters.
About India Bolton said the country's economy was largely domestic consumption-led, which meant that it has been less affected by the deceleration in global growth.
"As an economy that has continued to grow in spite of unprecedented turmoil in the global economy, I think India is well placed to benefit from an improving global environment," he added.
Fidelity International has a presence in India through Fidelity Mutual Fund, which launched its first fund in 2005.
Talking about the company's growth over the last four years, Ashu Suyash, Managing Director and Country Head India, Fidelity International, said, "as one of the fastest growing among the new asset management companies, we are delighted with the progress we have made over a short span of time.

Source: http://economictimes.indiatimes.com/India-well-placed-to-benefit-from-improving-intl-mkt-Fidelity-/articleshow/4411365.cms