BWI: Fidelity Announces Dividend in Fidelity Flexi Gilt Fund

Press release from Business Wire India
Source: Fidelity Fund Management
Monday, December 22, 2008 04:46 PM IST (11:16 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Banking & financial services, Business services, Financial Analyst, Information technology, Stock exchanges; Technology
Release no: 18794
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Fidelity Announces Dividend in Fidelity Flexi Gilt Fund


Mumbai, Maharashtra, India, Monday, December 22, 2008 -- (Business Wire India) -- Fidelity Mutual Fund has announced a dividend of Rs. 0.70 per unit (Face Value of Rs.10 per unit) in its open-ended, gilt scheme, the Fidelity Flexi Gilt Fund, subject to availability of distributable surplus. All investors registered in the Dividend Option as on December 26, 2008 will be entitled to this dividend which will be tax-free in the hands of the investors.

On the ex-dividend date, the NAV of the dividend option will reduce in line with the amount of dividend declared and statutory levy (if applicable). Under the dividend reinvestment option, the dividend declared will be re-invested at the ex-dividend NAV.

About Fidelity Flexi Gilt Fund

Fidelity Flexi Gilt Fund, an open ended gilt scheme that aims to generate sovereign linked returns primarily through investments in securities issued by the Central / State Government or any security unconditionally guaranteed by the Central / State Government. Sameer Kulkarni is the fund manager of the Fidelity Flexi Gilt Fund, which is benchmarked to the I Sec Composite Gilt Index.

Since its inception in August 2008, the Fund has delivered returns of 22.43% on an absolute performance basis* (as of December 17, 2008). For the same period, it has outperformed its benchmark index, the I Sec Composite Gilt Index, by 3.2%. Past Performance may or may not be sustained in future.

About Fidelity

Fidelity International's Indian asset management company started operations in the country in 2004. Its first fund, the Fidelity Equity Fund, was launched in March 2005. Today, with total assets under management of over Rs. 5800 crores (Source: AMFI - average AUM in November 2008) and more than 1.6 million customer accounts, Fidelity offers Indian investors investment options through its five equity funds and eight fixed income funds. For more information, please visit www.fidelity.co.in.

FIL Fund Management Private Limited is the Indian arm of Fidelity International, one of the world's leading global investment management companies with operations in 23 countries and more than US$197.9 billion in assets under management (as at September 30, 2008). FIL provides mutual funds, retirement services, including defined benefit and defined contribution pension schemes, and specialist institutional mandates to individual and institutional investors outside the Americas. FIL's US affiliate, Fidelity Management and Research LLC (FMR) is one of the US's largest mutual fund companies and manages over US$ 1.4 trillion (as at September 30, 2008). FIL has constant access to the investment analysis carried out by FMR and Pyramis. FIL benefits from the insights of nearly a thousand investment professionals around the globe1, covering 95% of the world's stock markets by capitalisation2. Central to Fidelity's success is a pioneering spirit, a commitment to innovation that sets new industry standards and an unmatched investment in research, talent, technology and investor education.

-- Returns are absolute as the scheme has not completed a period of 1 year since allotment


-- Sources:

- FIL Limited and FMR LLC as of 31 December 2007. Data is unaudited. Investment professionals include division management, portfolio managers, traders, research analysts and research associates. These figures reflect the resources of FIL Limited (FIL) and its subsidiaries and FMR LLC, an affiliate, and its subsidiaries

- Fidelity Equity Research as of 1 January 2007. These figures reflect the resources of FMR LLC, a US company, and its subsidiaries, and those of FIL Limited, a non-US company and affiliate, and its subsidiaries

CI01083

-- Scheme Classification: An open ended gilt scheme

-- Investment Objective: To generate sovereign linked returns primarily through investments in sovereign securities issued by the Central Government and/or a State Government or reverse repos in such securities or any security unconditionally guaranteed by the Central/State Government

-- Loads - Entry: Nil. If the AMC introduces an entry load, no entry load will be charged for direct applications received by the AMC i.e. applications submitted at the designated collection centres or through websites viz. www.fidelity.co.in or www.camsonline.com and which are not routed through any distributor/agent/broker. Exit: For redemptions within 6 months from the date of purchase, in case of purchase amount less than Rs. 50, 00, 000, applying first in first out basis: 0.50%. A switch-out or a withdrawal under SWP or a transfer under STP may also attract an exit load / CDSC like any redemption

-- Risk factors:

- Mutual funds, like securities investments, are subject to market risks and there is no guarantee against loss in the scheme or that the scheme's objectives will be achieved

- As with any investment in securities, the NAV of the units issued under the scheme can go up or down depending on various factors and forces affecting capital markets

- Past performance of the Sponsor/the AMC/the Mutual Fund does not indicate the future performance of the scheme

- Fidelity Flexi Gilt Fund is the name of the scheme, and this does not in any manner indicate the quality of the scheme, its future prospects or returns

- Please read the Offer Document of the scheme carefully before investing. Statutory: Fidelity Mutual Fund ('the Fund') has been established as a trust under the Indian Trusts Act, 1882, by FIL Investment Advisors (liability restricted to Rs. 1 Lakh). FIL Trustee Company Private Limited, a company incorporated under the Companies Act, 1956, with a limited liability is the Trustee to the Fund. FIL Fund Management Private Limited, a company incorporated under the Companies Act, 1956, with a limited liability is the Investment Manager to the Fund. Fidelity, Fidelity International and Pyramid Logo are trademarks of FIL Limited.




CONTACT DETAILS
Anjali Patil, Fidelity Fund Management, +91 (022) 66554015, anjali.patil@fil.com
Rajiv Adhikari, IPAN, +91 9820128688, rajiv.adhikari@ipan.com
Jaswinder Manchanda, IPAN, +91 9967375327, jaswinder.manchanda@ipan.com

KEYWORDS
CONSUMER, MARKETING, BANKING, BUSINESS SERVICES, Financial Analyst, IT, STOCK EXCHANGES, TECHNOLOGY

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