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Thursday, January 15, 2009

Fidelity MF unveils Wealth builder fund

NFO period from 14 January–05 February 2009

Fidelity Mutual Fund has launched initial offer period of Fidelity Wealth Builder Fund on 14 January 2009. The new issue will remain open till 05 February 2009. The NFO price for the fund is Rs 10 per unit. It is an open-ended fund of funds scheme comprising three plans. The fund will open for ongoing purchases and redemptions from 2 March 2009.

Details

The fund offers three plans viz. Plan A, B and C with varying levels of exposure to debt and equity that investors can choose from depending on their risk appetite.

Investment objective

Plan A: To seek to generate reasonable returns by investing predominantly in the Debt Schemes and around 15% of the net assets of the plan in the equity schemes.

Plan B: To seek to generate reasonable returns by investing predominantly in the debt schemes and around 30% of the net assets of the plan in the equity schemes.

Plan C: To seek to generate reasonable returns by investing at least 50 % of the net assets of the plan in the debt schemes balanced with generation of long – term capital growth by investing around 50 % of the net assets of the plan in the equity schemes.

Investment option:

The scheme offers three options viz. dividend and growth under each plan. The dividend option offers dividend payout and dividend re-investment facilities.

The minimum investment amount is Rs 5,000 . Minimum additional application amount can be made for Rs 1000.

The Mutual Fund seeks to raise a minimum subscription amount of Rs. 1 crore under each plan of the scheme during its New Fund Offer period.

Load structure:

The fund has no entry load but an exit load of 1% will be applicable for redemptions within a year from the date of purchase. A switch-out or a withdrawal under SWP or transfer under STP may also attract an exit load like any Redemption.

Asset allocation

Under Plan A, the fund will invest 100-70% in debt schemes and up to 30% in equity schemes and up to 30% in money market instruments.

Under Plan B, it will invest around 55-85% of net assets in debt schemes, 15-45% in equity schemes and up to 30% in money market instruments.

Under Plan C, the fund will invest 30-70% of the net assets in debt schemes and 30-70% of in the equity schemes while up to 40% in money market instruments

Benchmark index

For Plan A: 85 % CRISIL Blended MIP Index – 15% BSE 200 Index,

Plan B: 70 % CRISIL Blended MIP Index - 30% BSE 200 Index and

Plan C: 50% CRISIL Balanced Index – 50% BSE 200

Fund Manager :Sameer Kulkarni will be the fund manager for the scheme.

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