Fidelity to disclose portfolio on monthly basis
Chennai: Fidelity International will now disclose its funds' complete portfolios on a monthly basis. Until recently, the fund house was disclosing its portfolios only on a half-yearly basis, while a truncated snapshot of its holdings was made available every quarter. This was in line with Fidelity International's global disclosure policy. This practice of quarterly disclosure was at variance with several other Indian fund houses who have been disclosing their portfolios through monthly fact sheets.

Fidelity has been contending that frequent disclosures could hamper the process of fund management, as it could help other investors' borrow the house's investment ideas, to the detriment of its unit holders.

The change has come about following a change at the global level. Their frequency of disclosures has been increased to a monthly basis, although with a 30-day lag.
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Sun TV board okays 1:1 bonus issue
Chennai: The Board of Directors of Sun TV Network Ltd in its meeting held on Tuesday recommended a bonus issue of one share for every share held.
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Indiabulls to raise capital through GDRs
Mumbai: Financial services firm Indiabulls Financial Services Ltd said on Tuesday that it planned to raise additional capital through the issue of global depositary receipts (GDRs). The company's GDRs are already traded on the Luxembourg Stock Exchange.
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Individual investors can invest up to $100,000/yr in overseas mkts
Mumbai: Further liberalising its overseas remittance scheme, the Reserve Bank has hiked the transaction limit for individual investors to 1,00,000 dollars in a year -- a development that would lead to increased participation of Indians in foreign markets.

The decision has come as a major boost for companies like Reliance Money, which has already tied up with UK-based online trading platform provider CMC Markets to provide offshore investment products to Indian customers.

Besides, a number of other financial services providers and brokerages are expected to soon follow with similar products and tie-ups to tap Indian investors seeking to invest in foreign equity, commodities and derivatives markets.
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Gold falls as buyers hold purchases
London: Gold prices have fallen after a rally brought the metal to an 11-month high. Gold for immediate delivery dropped $1.10 llar to $688.05 dollar an ounce, in continuation to a fall of $2.80 yesterday. Silver also lost 4.5 cents to $13.97 an ounce. Palladium for immediate delivery lost $2 to $382 and platinum by $5.75 to $1,318.50. Bullion has advanced 8.2 per cent this year, rising to $694.25 an ounce, the highest since May last.
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