Fidelity International’s Indian asset management company has launched its 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.

The NFO for the fund will be open from July 23 – 31, 2008 and thereafter it will open for ongoing purchases and redemptions from August 8, 2008.

The Fidelity Flexi Gilt Fund will offer Growth and Dividend options.  

The company informed that investors can invest in the Fidelity Flexi Gilt Fund even through the SIP route with a minimum amount of Rs 500 per installment with the total of all installments not being less than Rs 5000/-. In addition, the systematic transfer and withdrawal plans are available as well.   

The Fund has no entry load, but an exit load of 0.50% will be applicable 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.  

Fidelity International, Fund Management Private (FFMPL) is the Indian arm of Fidelity International. It started its operations in the country in 2004 and currently offers Indian investors investment options through its five equity funds and four fixed income funds.