Mumbai, Maharashtra, India
Fidelity Fund Management has announced dividends in the Fidelity Equity Fund and the Fidelity Tax Advantage Fund. The dividend in the Fidelity Equity Fund is Rs. 2.50 per unit (Face Value of Rs.10 per unit) and the maiden dividend in the Fidelity Tax Advantage Fund is Rs.1.50 per unit (Face Value of Rs.10 per unit), both subject to availability of distributable surplus. All investors registered in the Dividend Option of the two funds as on March 13, 2008 will be entitled to this dividend which will be tax-free in the hands of the investors.
Pursuant to payment of dividend, the Net Asset Value per unit of the dividend options of the respective schemes will fall to the extent of the payment and statutory levy (if applicable). Under the dividend reinvestment option, the dividend declared will be re-invested at the ex-dividend NAV.
About Fidelity Fund Management Private Limited
Fidelity Fund Management Private Limited is the Indian arm of Fidelity International Limited, one of the world's leading global investment management companies with operations in 23 countries. Fidelity International provides mutual funds, retirement services, including defined benefit and defined contribution pension schemes, and specialist institutional mandates to individual and institutional investors outside the Americas. Fidelity International along with its US affiliate, Fidelity Management and Research Co., actively covers 95%1 of the world market capitalization through its unrivalled research network of over 7002 investment professionals. Central to Fidelity's success is a pioneering spirit, a commitment to innovation that sets new industry standards and an unmatched investment in research, talent and technology. Driven by an entrepreneurial culture, Fidelity is known to actively pursue investor education and distributor training, which it has also begun in the country.
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Sources:
1. Fidelity, 2006.
2. FMR Corp., Pyramis Global Advisers, FIL, 2006. Data is unaudited. These figures reflect the resources of FMR Corp., A U.S. company and its subsidiaries, and the resources of Fidelity International Limited, a non-U.S. company and affiliate and its subsidiaries.
Scheme classification & investment objectives: Fidelity Equity Fund ("FEF") is an open ended equity growth scheme with an objective to generate long-term capital growth from a diversified portfolio of predominantly equity and equity-related securities. Fidelity Tax Advantage Fund ("FTAF") is an open ended equity linked savings scheme with an objective to generate long-term capital growth from a diversified portfolio of predominantly equity and equity-related securities. Entry Load: FEF and FTAF - For each purchase of less than Rs. 5 Crores - 2.25%. No Entry Load will be charged for direct applications i.e. applications not routed through brokers/agents/distributors. Exit Load: FEF - For redemption within 6 months from the date of allotment: 1.00%. FTAF - Nil. The units allotted under FTAF have a lock-in period of 3 years from the allotment date. For more details on loads, please refer to the offer document of the respective schemes.
Risk factors: ▪Mutual funds, like securities investments, are subject to market risks and there is no guarantee against loss in the schemes or that the schemes' objectives will be achieved. ▪As with any investment in securities, the NAV of the Units issued under the schemes can go up or down depending on various factors and forces affecting capital markets. ▪ Past performance of the Sponsor /the AMC/the Mutual Fund does not indicate the future performance of the Scheme. ▪ FEF and FTAF are the names of the schemes, and these do not in any manner indicate the quality of the schemes, its future prospects or returns. ▪ These Schemes shall be subject to the risks associated with the instruments in which they invest. ▪ Please read the offer documents of the respective schemes before investing. Investors can contact ISCs at the toll-free number "1 800 180 8000".
Statutory: Fidelity Mutual Fund ('the Fund') has been established as a trust under the Indian Trusts Act, 1882, by Fidelity International Investment Advisors (liability restricted to Rs. 1 Lakh). Fidelity Trustee Company Private Limited, a company incorporated under the Companies Act, 1956, with a limited liability is the Trustee to the Fund. Fidelity Fund Management Private Limited, a company incorporated under the Companies Act, 1956, with a limited liability is the Investment Manager to the Fund. Fidelity, Fidelity International and Pyramid Logo are trademarks of Fidelity International Limited.
Source: Fidelity Fund Management (Business Wire India)
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