Fidelity Mutual Fund launches Short Term Income Fund scheme

MUMBAI: Fidelity Mutual Fund on Thursday announced the launch of Fidelity Short Term Income Fund, an open ended income scheme that aims to generate reasonable returns primarily through investments in fixed income securities and money market instruments.

The NFO for the fund will open from November 19 and closes on November 30.

"At a time when investors have turned risk averse with hardening interest rates and increasing equity market volatility, we believe that Fidelity Short Term Income Fund could provide reasonable returns even over shorter periods of time," Fidelity Investment Managers, Managing Director and Country Head - India, Ashu Suyash told reporters here.

The fund presents a key building block for the asset allocation plans of retail and high net-worth investors and is in line with our overall objective of helping investors in reaching their financial goals.

"With this launch, we hope to reach out to a wide section of investors with an investment option that will leverage our expertise in bottom-up credit research to provide better post-tax returns over other interest bearing instruments including deposits," Suyash said.