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Fidelity MF,whose new fund offer ‘Short Term Income Fund’ is currently open,said it will come out with more products in the January-March period.
“Fidelity Short Term Income Fund completes our product basket in the fixed income section (for 2010). We will come out with new fund offers to increase both equity and debt portfolios in the first quarter of 2011,” Fidelity Portfolio Manager (Fixed Income) Shriram Ramanathan said.
Although,Ramanathan did not disclose how many funds would be on offer,he said fixed income section would remain the focus area,besides emphasis on equity funds.
Fidelity Mutual Fund launched the new fund offer (NFO) ‘Fidelity Short Term Income Fund’ on November 19.
The open ended fund would invest the corpus in fixed income securities and money market instruments. It will close on November 30.
The returns of the scheme would be benchmarked against the Crisil Short Term Bond Fund Index.
At the end of October the asset under management of Fidelity MF stood at about Rs 9,000 crore. The fund house provides investment options through its seven equity funds and six fixed income or hybrid funds.
The Fidelity Short Term Income Fund would offer growth and dividend options. The minimum initial investment for this fund is Rs 5,000.
The fund would have an exit load of 0.50 per cent for redemptions within 6 months from the date of purchase or allotment.
