Financial Daily from THE HINDU group of publications
Saturday, Feb 18, 2006
Financial Daily from THE HINDU group of publications Saturday, Feb 18, 2006 |
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Markets
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Mutual Funds Fidelity MF moots `special' equity scheme Our Bureau
Kolkata , Feb. 17 FIDELITY Mutual Fund has mooted an equity scheme that will revolve around `special situations'. The proposed Fidelity India Special Situations Fund will invest in undervalued companies keeping in view scenarios that have been described as out-of-the-ordinary, ones that provide "interesting stock picking opportunities". The fund, the third equity-oriented proposal from the Fidelity MF stable, will aim at companies that are said to have recovery potential or with special products commanding a particular niche and even those that are carrying out corporate restructuring programmes. The investment universe, the offer document filed with SEBI has mentioned, will include companies with assets whose value may not have been recognised generally by the market as well as those that could later be potential M&A candidates. Fidelity India Special Situations Fund, which will seek to generate long-term growth of capital, will be benchmarked against the BSE 200 index. The offer document has named Mr Rajesh Singh as its fund manager.
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