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Fidelity Tax Advantage

Fidelity Mutual Fund has launched an equity-linked savings scheme- Fidelity Tax Advantage Fund. The fund would be initially available for subscription from January 5 to January 31, 2006.

Fidelity Tax Advantage Fund will be managed on the similar line as Fidelity Equity is being currently managed. It will invest in a portfolio of around 60-80 stocks, with no stock accounting for more than 4 per cent in general terms.

The fund would charge an entry load of 2.25 per cent for investments less than Rs 5 crore. It would not charge any exit load. The entry load for SIP investments would be 1.25 per cent. This load structure would be applicable during the new fund offer period as well as on an ongoing basis.

The minimum subscription amount would be Rs 500. The fund would benchmark its performance against BSE 200 Index.