Fidelity Mutual Fund has launched a new fund named as Fidelity Global Real Assets Fund, an open ended fund of funds scheme.
The new fund offer (NFO) price for the scheme is Rs 10 per unit. The new issue is open for subscription from Jan.11, 2010 and closes on Jan.29, 2010.
The investment objective of the scheme is to generate long-term capital growth from a portfolio which will be primarily invested in Fidelity Funds - Global Real Asset Securities Fund, an offshore fund launched by Fidelity Funds (an open ended investment company incorporated in Luxembourg) and similar to an Indian mutual fund scheme.
Speaking about the launch of the new fund, Ashu Suyash, managing director (MD) and country head – India, Fidelity International, said, ``Indian investors have always had a soft spot for physical assets, like gold and real estate. The Fidelity Global Real Assets Fund brings you the option of adding a whole range of physical or real assets through the convenience and affordability of a diversified equity fund.``
Amit Lodha, portfolio manager of the Fidelity Funds - Global Real Asset Securities Fund, said, ``I believe that the Fidelity Funds - Global Real Asset Securities Fund provides investors with the opportunity to benefit from a new type of investment approach from Fidelity International by combining thematic thinking and bottom-up stock idea identification. The allocation to thematic drivers will be dynamic and anticipate and exploit different points in the economic cycle – not just when there is a commodities / resources bull market.``
The scheme offers two options - growth option and dividend option. The dividend Option offers dividend payout and dividend re-investment facilities.
The scheme would invest 80% to 100% of assets in shares / units of the underlying scheme / foreign securities with high risk profile and up-to 20% of assets in money market instruments and/or liquid/cash schemes of mutual funds registered with SEBI with low to medium risk
The exit load charge will 1% of applicable NAV if exited within 1 year from the date of allotment or Purchase applying first in first out basis.
Benchmark is a blend of the following indices - MSCI ACWI Industrials, MSCI ACWI Real Estate, MSCI ACWI Utilities, MSCI Materials and MSCI Energy. The weights assigned to each individual index while calculating the custom benchmark is 20%, 20%, 10%, 20% and 30% respectively.
Source: http://www.myiris.com/newsCentre/storyShow.php?fileR=20100112170016707&dir=2010/01/12&secID=livenews
The new fund offer (NFO) price for the scheme is Rs 10 per unit. The new issue is open for subscription from Jan.11, 2010 and closes on Jan.29, 2010.
The investment objective of the scheme is to generate long-term capital growth from a portfolio which will be primarily invested in Fidelity Funds - Global Real Asset Securities Fund, an offshore fund launched by Fidelity Funds (an open ended investment company incorporated in Luxembourg) and similar to an Indian mutual fund scheme.
Speaking about the launch of the new fund, Ashu Suyash, managing director (MD) and country head – India, Fidelity International, said, ``Indian investors have always had a soft spot for physical assets, like gold and real estate. The Fidelity Global Real Assets Fund brings you the option of adding a whole range of physical or real assets through the convenience and affordability of a diversified equity fund.``
Amit Lodha, portfolio manager of the Fidelity Funds - Global Real Asset Securities Fund, said, ``I believe that the Fidelity Funds - Global Real Asset Securities Fund provides investors with the opportunity to benefit from a new type of investment approach from Fidelity International by combining thematic thinking and bottom-up stock idea identification. The allocation to thematic drivers will be dynamic and anticipate and exploit different points in the economic cycle – not just when there is a commodities / resources bull market.``
The scheme offers two options - growth option and dividend option. The dividend Option offers dividend payout and dividend re-investment facilities.
The scheme would invest 80% to 100% of assets in shares / units of the underlying scheme / foreign securities with high risk profile and up-to 20% of assets in money market instruments and/or liquid/cash schemes of mutual funds registered with SEBI with low to medium risk
The exit load charge will 1% of applicable NAV if exited within 1 year from the date of allotment or Purchase applying first in first out basis.
Benchmark is a blend of the following indices - MSCI ACWI Industrials, MSCI ACWI Real Estate, MSCI ACWI Utilities, MSCI Materials and MSCI Energy. The weights assigned to each individual index while calculating the custom benchmark is 20%, 20%, 10%, 20% and 30% respectively.
Source: http://www.myiris.com/newsCentre/storyShow.php?fileR=20100112170016707&dir=2010/01/12&secID=livenews
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