Fat bonus awaits Fidelity MF staff moving to L&T MF

Employees of Fidelity Mutual Fund are in for a windfall. The senior management of the foreign fund house has decided to pay a fat bonus to employees who will move to L&T Mutual -- as part of the L&T-Fidelity deal.

According to HR consultants servicing asset management companies, the payout could be “significant” as Fidelity intends to hand out a “parting gift” to its 120 employees.

While the modalities of the pay-out is not known, the talk is that it could come in the form of a handsome bonus pay-out. The pay-out may restrict flight of employees to other asset management companies.