Fidelity Asset Management Company, the Indian unit of Fidelity International, has announced the launch of its first Fixed Maturity Plan (FMP) named 'Fidelity Fixed Maturity, Series 1 - Plan A' with duration of 370 days from the date of allotment of units. This scheme is a close-ended debt scheme with an objective to generate reasonable returns and reduce interest rate volatility primarily through investment in money market and short term debt instruments with a maturity profile generally in line with the Plan's duration. The performance of the Plan will be benchmarked against the CRISIL Short Term Bond Fund Index. The minimum application amount for the retail plan is Rs 5000 and under the institutional plan, it is Rs 1crore. The fund offers both retail and institutional plans. The fund will not charge any entry load but levy an exit load of 2 percent for redemptions before maturity. The new fund opens on August 20 will close on August 27, 2008. 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.