Fidelity Mutual Fund has filed an offer document with the SEBI to launch its first fund in India. Named as Fidelity Equity Fund, it would be an open-ended equity scheme.
The fund seeks to generate long-term capital growth from a diversified portfolio of predominantly equity and equity-related securities and would offer both growth and dividend options. The dividend option would further have dividend payout and dividend reinvestment facilities. The minimum initial application amount has been fixed at Rs 5,000.
The fund would charge an entry load of 2.25 per cent for purchases less than Rs 5 crore.
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