Pursuant to the acquisition of Fidelity's Indian mutual fund
business by L&T Finance Limited (LTF), a subsidiary of L&T Finance
Holdings Limited (LTFH). The names of schemes are changed as follows:
*Fidelity Ultra Short Term Debt Fund, an open ended debt
scheme will be renamed as Fidelity Low Duration Fund with effect from 16
November 2012.
**Fidelity India Children's Plan - Savings Fund, an open
ended income fund under the umbrella - Fidelity India Children's Plan (an open
ended hybrid plan comprising three funds - Education Fund, Marriage Fund and
Savings Fund) will be merged with Fidelity Short Term Income Fund, an open
ended income scheme.
***Fidelity India Children's Plan - Education Fund, an open
ended equity growth fund under Fidelity India Children's Plan will be unbundled
from the umbrella - Fidelity India Children's Plan, undergo fundamental
attribute changes and renamed as Fidelity India Prudence Fund with effect from
16 November 2012.
****Fidelity India Children's Plan - Marriage Fund, an open
ended equity growth fund under Fidelity India Children's Plan will be unbundled
from umbrella - Fidelity India Children's Plan, undergo fundamental attribute
changes and renamed as Fidelity India Equity and Gold Fund with effect from 16
November 2012.
Upon completion of the proposed transaction certain schemes
of Fidelity Mutual Fund will be merged with certain schemes of L&T Mutual
Fund. Consequently, the transferee schemes will be the surviving schemes as
listed below:
Upon completion of the proposed transaction certain schemes
of L&T Mutual Fund will be merged with certain schemes of Fidelity Mutual
Fund. The name of the surviving schemes (i.e. the transferee schemes) is
proposed to be changed as follows:
* Fidelity India Growth Fund will undergo a change of name
and fundamental attribute changes effective on 16 November 2012, pursuant to
which this scheme will be named as 'Fidelity India Large Cap Fund'.
Fidelity India Prudence Fund, an open ended equity growth
scheme: The scheme would invest 65% to 75% of assets in equity and equity
related securities with medium to high risk profile. On the other side it
would allocate 25% to 35% of assets in debt and money market instruments
including units of debt / fixed income schemes launched by mutual funds
registered with SEBI with low to medium risk profile.
The exit load charge will be 1% if redeemed within 1 year
from the date of allotment or purchase applying first in first out basis.
Fidelity India Equity and Gold Fund, an open ended equity
growth scheme: The scheme would invest 65% to 90% of assets in equity and
equity related securities with medium to high risk profile. 10% to 25% of
assets in Gold ETFs with medium to high risk profile. Upto 10% of assets in
debt and money market instruments including units of debt / fixed income
schemes launched by mutual funds registered with SEBI with low to medium risk
profile.
The exit load charge will be 1% if redeemed within 1 year
from the date of allotment or purchase applying first in first out basis.
Fidelity Cash Fund, an open ended liquid scheme: The scheme
would invest 65% to 100% of assets in certificate of deposit issued by banks,
bank fixed deposits, treasury bills, CBLO, Repo / reverse repo with medium to
high risk profile. On the other side it would allocate upto 35% of assets
in commercial papers and other debt instruments including securitized debt with
low to medium risk profile.
The change in fundamental attributes of the schemes of
Fidelity Mutual Fund will take effect on 16 November 2012 notwithstanding the
outcome of the proposed transaction.
Source: http://www.indiainfoline.com/Markets/News/Fidelity-Mutual-Fund-Announces-Changes/4535981912
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