Fidelity Mutual Fund announced the launch of Fidelity Short Term Income Fund, an open-ended income scheme that aims to generate reasonable returns primarily through investments in fixed income securities and money market instruments. The NFO for the fund will be open from November 19 –November 30, 2010.
Shriram Ramanathan is the fund manager of the Fidelity Short Term Income Fund. The Scheme is benchmarked to the Crisil Short Term Bond Fund Index.The fund will offer growth and dividend options. The minimum initial investment is Rs 5,000. The fund has an exit load of 0.50 per cent, which will be applicable for redemptions within 6 months from the date of purchase or allotment on a first-in-first-out basis.
Investors can invest in the Fidelity Short Term Income Fund even through the SIP route with a minimum amount of Rs 500 per installment with the total of all installments not being less than Rs 5000 In addition, the systematic transfer and withdrawal plans are available in the Fund.
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