Fidelity launches Fidelity India Growth Fund

In addition to the Fidelity international opportunities fund, it now launches a new new open-ended equity fund called Fidelity India Growth Fund. The fund would primarily invest in growth oriented companies in Indian and International markets.

The scheme seeks to invest in the best opportunities in the Indian and international markets, without any sector or cap bias. The fund managers will follow bottom up stock picking strategy. The focus will be on companies that offer best value relative to their respective long-term growth prospects, returns in capital and management quality.

However, while investing in the international markets, the fund managers expect to identify such investments which could provide opportunity to participate in the Indian economy. For example - Indian businesses that are listed in international markets or international companies that participate in the Indian economy.

Around 80-100 % of investments would be allocated to equity and equity-related instruments. Money market component in the portfolio would be around 0 - 20 per cent.

Snapshot
Face Value: Rs 10
Type of Fund: Open- End
Options: Growth, Dividend Reinvestment and Payout
Minimum Investment: Rs 5000
Entry Load: An entry load of 2.25% would be charged for investment less than 5 crores.
Exit Load: An exit load of 1% would be charged if the investment is redeemed with in six months from the date of allotment.
Offer Opens: September 3, 2007
Offer Closes: September 26, 2007