Global mkts to remain volatile till mid-2009

Written by Markets Bureau | Mumbai, Jun 30 | Updated: Jul 2 2008, 04:27am hrs
Surging crude oil prices, inflation and the hardening of interest rates will keep global and Indian equity markets volatile for the next 12-15 months, Robert Higginbotham, president of Fidelity International, said.

On the sidelines of the launch of an e-learning platform, Fundsnetwork, Higginbotham, who heads Fidelity Internationals European business, told reporters, In the current scenario, when global crude prices are over $140 per barrel, we believe that volatility in the market is going to stay for another 12-15 months.But we are sure that we will see some positive trend in the International and Indian markets as crude prices ease.

Fidelity India launched its online fund platform, Fundsnetwork, in India, which will offer online range of funds from several fund houses and will help intermediaries grow their business by allowing them to focus on customer acquisition, advice and relationship management without being concerned about back-office and administration issue.

India is a strategic market for us and the Fundsnetwork initiative demonstrates our commitment to expanding the mutual fund industry in India, added Higginbotham. In the first phase of Fundsnetwork, Fidelity is launching Fidelity Advisers Institute (FAI), Fidelitys Centre for Excellence, for advisers, which will focus on business coaching and practice management with programmes tailored to help MF advisors grow their business. FAI will also seek to bring in new advisers by helping them to learn about MFs and become registered agents.