Fidelity MF unveils 370-day FMP

Fidelity Mutual Fund has launched a new fund called Fidelity Fixed Maturity Plan-Series II — Plan D, a closed-ended debt scheme. The NFO price for the scheme is Rs 10 per unit. The new issue opened for subscription from June 11, 2010, and will close on June 15, 2010.

The investment objective of the scheme is to generate reasonable returns and reduce interest rate volatility primarily through investment in money market and short to mid-term debt instruments having maturity, on or before the date of maturity of a plan, which is 370 days from the date of allotment.

The scheme will allocate up to 100% assets in debt and money-market instruments with low to medium risk profile. The scheme may invest in securitised debt up to 100% of its net assets. The scheme may also invest in foreign securities up to 25% of its net assets, The minimum application amount is Rs 5,000. Entry and exit load charge will be nil for the scheme.