Fidelity has shelved its plans to roll out a new closed-ended India fund, Citywire reports. The asset manager’s new vehicle, which was due to launch in time for the ISA season, was to be run by Nitin Bajaj.

The outlook for India-focused investments has turned sour since Fidelity unveiled its plans to launch the fund in January. Fidelity has $246 billion in assets under management across its international businesses.

Click here for the story from Citywire.