Fidelity MF Pays Loyalty Premium to since inception investors in Fidelity Equity Fund

Fidelity celebrates 5 years of operations in India

Fidelity Mutual Fund today announced a unique Loyalty Premium for investors in Fidelity Equity Fund (FEF) who have stayed invested since inception. This coincides with Fidelity completing five years of business in India. The eligible investors will receive 2 free units at current NAV for every 500 units of FEF held since inception. The units will be added to the eligible investors' portfolios on 18 May 2010 at the applicable net asset value.

Speaking on the occasion, Ashu Suyash, Managing Director and Country Head - India, Fidelity International, said: “We are delighted to offer this loyalty premium to our long term investors and believe that our vision of always acting in the best interest of customers in helping them reach their financial goals will help us build a solid long term business in India.

“At Fidelity we have always maintained that equities as an asset class outperform over the long term and it pays to stay invested in equity funds irrespective of market cycles which is borne out by the performance of the Fidelity Equity Fund over the last five years. The fund has delivered a CAGR of more than 25% over the last 5 years and helped triple investor money.

“We hope that this initiative will encourage many more customers to invest and stay invested in our equity funds in their own best interests,” she added.

Sandeep Kothari, Fund Manager, Fidelity Equity Fund commented: “Fidelity's bottom-up, research driven stock picking approach combined with a focus on the consistency of risk-adjusted returns has contributed significantly to the fund's long term performance.

“We have maintained a disciplined approach to understanding the companies that we have invested in - their business models, their growth prospects, the scalability of the business, the management team which runs the business and the valuations. We expect the investors in Fidelity Equity Fund to continue benefiting from this approach”.

FIL Fund Management Private Limited (FFMPL), Fidelity International's Indian asset management company started operations in the country in 2004. Its first fund, the Fidelity Equity Fund, opened for ongoing subscription in May 2005. This initiative, aimed at rewarding the long term investors, is possibly the first from a mutual fund in India and is in line with Fidelity's philosophy of investing in the interest of customers.

Source: http://www.indiainfoline.com/Markets/News/Fidelity-MF-Pays-Loyalty-Premium-to-since-inception-investors-in-Fidelity-Equity-Fund/3074170330