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Fidelity AMC introduces its first fixed maturity plan

Fidelity Asset Management Company introduced its first fixed maturity plan, the Fidelity Fixed Maturity, Series 1 - Plan A with a duration of 370 days from the date of allotment of units.

18 Sep 2008

Fidelity Asset Management Company introduced its first fixed maturity plan, the Fidelity Fixed Maturity, Series 1 - Plan A. It is a close-ended debt scheme with a duration of 370 days from the date of allotment of units.

The scheme aims to generate reasonable returns and decrease interest rate volatility through investment in money market and short term debt instruments. The plan's performance will be benchmarked against the CRISIL Short Term Bond Fund Index.

The new fund offer will be open for subscription from August 20 till August 27. The fund offers retail and institutional plans with minimum application amount being Rs. 5000 and 1 crore respectively.

On maturity the fund offers redemption facility without the payment of any load. Exit load of 2 percent is payable for redemption before the maturity date.



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