The Hindu Business Line : Fidelity Equity Fund lists at Rs 10.029

FIDELITY Mutual Fund has reported a net asset value of Rs 10.029 for the Fidelity Equity Fund, a month after the initial public offer of the fund closed. The fund house had launched its maiden equity fund in India on March 21 and is understood to have collected over Rs 1,500 crore during the IPO.

The launch and the subsequent declaration of the first NAV are being keenly watched by investors and other MF participants as the fund house has bucked the trend and started its business in India with only one fund.

Distributors say that there is continued interest in the fund with potential investors who preferred to follow a wait and watch policy during the IPO looking to enter now. There were also shortages in the application form for the fund and a section of investors were not able to invest during the IPO because of this, they say.

Several equity funds launched in the last few months were forced to report NAV of less than par values as the stock markets have been turbulent

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