ICRA assigns highest credit risk rating to Fidelity STI Fund

Mumbai, Nov 28 (UNI) The Fidelity Short Term Income (STI) Fund has been assigned a credit risk rating mfAAA by ICRA.

The rating indicates highest-credit-quality rating assigned by ICRA to debt funds, an ICRA press release said here today. The mfAAA rating means that the Fund carries the lowest credit risk, similar to that associated with long-term debt obligations rated in the highest-credit-quality category.

The Fidelity Short Term Income Fund is an open ended income scheme that aims to generate reasonable returns through a diversified portfolio of fixed income securities. The benchmark index for the Fund is the Crisil Short Term Bond Index. The Fund is managed by Sameer Kulkarni.

It has an Institutional and Non-Institutional Plan and each Plan offers Growth and Dividend options. The minimum initial investment for the Institutional Plan is Rs 5 crore and for investors under the non-Institutional Plan, it is Rs 5000, and investors can invest through the SIP route. The Fund has no entry or exit loads.

UNI SN MAZ AW1707