 "US MF almost halves 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 $2.7 million ($2,715,764), or $52.12 per share, as on November 30, 2016.
Fidelity, which holds less than one 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% 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 or $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.
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