Fidelity brings international investment opportunities to India

Mumbai, Apr 9 (UNI) Mutual Fund, Fidelity Fund Management today unveiled plans to introduce international offerings and other global products in India.

''Our international offerings and other global products will be introduced once guidelines are issued under the recently announced USD 50,000 remittance scheme. This new fund is an open-ended equity growth scheme that seeks to invest 65 per cent in Indian equities and around 35 per cent in international equities, with a focus on Asia, to generate long-term capital appreciation,'' Managing Director and Country Head of Fidelity Fund Management Pvt Ltd Ms Ashu Suyash said.

''International investing lends itself perfectly to diversification benefits because each country's economy offers distinct inherent strengths and each has its own set of differing growth characteristics,'' Fund manager Rajesh Singh said.

Elaborating on geographical diversification, Fidelity International Director Jed Wirgley said that diversification reduces risk and brings consistent returns.

The new fund offer (NFO) opens today and will close on Apr 30.

The minimum amount for lump sum investment is Rs 5,000 and multiples of Rs 1,000 thereafter. The Systematic Investment Plan (SIP) is also available with a minimum of six instalments and each single instalment for a minimum of Rs 500 and totalling not less that Rs 5,000.

Fidelity Fund Management Private Limited is the Indian arm of Fidelity International Limited, which boasts of operations in 23 countries. The parent company provides mutual funds, retirement services, pension schemes to individual and institutional investors all over the globe.

UNI