There is some good news awaiting those investors who have remained in Fidelity Equity Fund (open ended equity fund) since its launch.
The fund house has announced a loyalty premium programme under which the eligible investors will receive two free units for every 500 units of Fidelity Equity fund held since inception. The units will be added to the eligible investor’s portfolio on May 18, 2010 at the applicable net asset value.
This was the first equity fund launched by the AMC way back in May, 2005. Interestingly, this coincides with the completion of five years of operation of this fund house in the country.
Ashu Suyash, Managing Director and Country Head – India, Fidelity International, said, “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 per cent over the last five years and helped triple investor money.”
The fund has outperformed its category over one year as well as three year period ending May 14, 2010. While Fidelity Equity Fund’s one-year return stands at 64.08 per cent against 61.75 per cent return for its category, its three-year return is 12.02 per cent against 8.69 per cent for its category.
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.”
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