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Fidelity India Special Situations Fund


Fidelity Mutual Fund has launched an equity fund that can invest up to 10 per cent of its assets in overseas securities. Named as Fidelity India Special Situations Fund, the scheme is open for initial subscription between March 28 and April 26.

An open-ended equity fund, it aims to deliver long-term growth by investing across the spectrum of Indian equities with a focus on companies in special situations.

The fund would invest 80-100 per cent of its assets in equities, while up to 20 per cent of the assets could be invested in money market instruments. Within equities, the scheme can invest up to 10 per cent of net assets as on January 31 of each relevant year in offshore securities, ADRs and GDRs.

The minimum investment in the fund is Rs 5,000 and in multiples of Rs 1,000 thereafter. The entry load is 2.25 per cent for each purchase of less than Rs 5 crore. For amounts greater than or equal to Rs 5 crore or by an FOF or on dividend reinvestment, the entry load is nil. There is an exit load of 1 per cent for redemptions within the first six months for non-SIP investments.

Systematic Investment Plan (SIP) option will be available during the NFO period with minimum 6 instalments and each single instalment for a minimum Rs 500 totalling not less than Rs 5,000. There will be an entry load of 1.25 per cent for each purchase less than Rs 1 lakh and an exit load of 1 per cent for redemptions within two years for investments made through SIP.