Fidelity Marked Down Value of Investment in Flipkart
US-based mutual fund Fidelity Rutland Square Trust II has marked down the value of its shareholding in e-commerce firm Flipkart by almost half over a period of one year.
In a regulatory filing on January 24, Fidelity reported value of its 52,096 shares in Flipkart at USD 2.7 million (USD 2,715,764), or USD 52.12 per share, as on November 30, 2016. Fidelity, which holds less than a percent in Flipkart, in its earlier filing had reported value of its holding at USD 5,416,421, or USD 103.96 per share, as on November 30, 2015.
Flipkart did not comment on the development. At the same time, Fidelity has reported around 13 percent increase in its investment made in online retail major Amazon.
Fidelity reported value of its 281,493 shares in Amazon.com at USD 211,280,201 implying value of...