US MF Fidelity almost halves value of Flipkart investment
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 $2.7 million ($ 2,715,764), or $ 52.12 per share, as on November 30, 2016.
Fidelity, which holds less than a per cent in Flipkart, in its earlier filing had reported value of its holding at $ 5,416,421, or $ 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 per cent increase in its investment made in online retail major Amazon.
Fidelity reported value of its 281,493 shares in Amazon.com at $ 211,280,201 implying value of $ 750.5 per share as on November 30, 2016.
Fidelity had earlier reported value of its 191,893 shares in Amazon.com at $ 127,570,466 as on November 30, 2015, which is $664.79 per share.
Flipkart is an electronic commerce company headquartered in Bangalore, Karnataka.