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Thursday, May 21, 2009

Fidelity Forward India Fund waits for Sebi's approval

An open ended equity growth scheme

Name of Fund: Fidelity Forward India Fund

Scheme: An open ended equity growth scheme

Investment Objective: The investment objective of the Scheme is to generate long-term capital appreciation from a diversified portfolio of predominantly equity and equity related securities, in the Indian markets. The Scheme could also additionally invest in Foreign Securities in international markets.

Investment Options: The scheme offers two option - growth and dividend option. The dividend option offers dividend payout and dividend re-investment facilities.

Asset Allocation: The fund will invest up to 80%-100% in equity and equity related securities – Indian equity securities, it also includes investments in equity derivatives. It will invest upto 10% in foreign securities including overseas ETFs (as permitted by Sebi/ RBI) and invest upto 20% in debt securities, money market instruments, cash and domestic ETFs.

Investments in ETFs will be within the limits specified under the Regulations from time to time including securitised debt.

NFO price: Rs 10 per unit

Load structure: The scheme will charge 3.00% of an entry load.

The scheme will charge an exit load of 1.00%, for the redemption within 1 year from the date of allotment for purchase applying first in first out basis. And it will charge 2.00% for redemption within 6 months from the date of allotment for purchase applying first in first out basis.

Minimum Investment Amount: The minimum investment amount under the scheme is Rs 5000 per application and additional application for purchase of units under the scheme must be for a minimum amount of Rs 1000 per application.

Minimum Target amount: The Fund seeks to collect a minimum targeted amount of Rs 1 crore during NFO.

Benchmark Index: BSE – 200 Index.

Fund Managers: Nitin Bajaj will manage the fund and Subramanian Balakrishnan will be the fund manager for investments in foreign securities

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