Fidelity Investments has formed an alliance with South Africa's...

Fidelity Investments has formed an alliance with South Africa's Standard Bank to distribute Fidelity's offshore mutual funds to institutions and retail investors in South Africa. International equity funds are likely to dominate the offerings, said John Morris, a consultant with TriStar International, which found the partner for Fidelity. Mr. Morris said Fidelity was attracted not only by the firm's network of bank branches and independent broker-dealers, but also by its presence in other African countries as well as Madagascar.