Fidelity International has unveiled FundsNetwork, an online fund platform in the country. FundsNetwork is a technology-powered solution, which will give mutual fund advisors with business tools that will support transactional and reporting requirements as well as planning and guidance needs. Market development and penetration of mutual funds have been severely limited by the smaller number of agents selling funds especially when compared with the insurance industry''s strength in number of agents. The facility is target to assist intermediaries to grow their business by allowing them to concentrate on customer acquisition, advice and relationship management without being concerned about back office and administration issues. Under the first phase of this initiative, Fidelity Advisers Institute has been unveiled, which will concentrate on business coaching for mutual fund advisers and will offer comprehensive training and development programmes for advisers free of charge. At the same time, mutual fund advisors who are currently selling mutual funds can also avail themselves of other training modules.
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