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To target turnarounds, under appreciated firms

MS ASHU SUYASH, Country Head, Fidelity Fund Management, and Mr Rajesh Singh, Fund Manager, Special Situations Fund, at a press conference in Mumbai on Tuesday. - Shashi Ashiwal

Mumbai , March 28

Fidelity Fund Management today launched the Fidelity India Special Situations Fund.

This open-ended equity fund would invest in Indian companies that are in special situations. The fund house has termed special situations as companies that are in turnarounds, those with under appreciated growth, with new products or new business streams.

These situations present an investment opportunity to a fund manager who can foresee and interpret the implications of the opportunity early enough, according to fund house officials. Fidelity has similar funds in other parts of the world, including Japan and the UK, said Ms Ashu Suyash, its Country Head.

The minimum application amount is Rs 5,000. The fund charges an entry load of 2.25 per cent for purchases less than Rs 5 crore and an exit load of 1 per cent for redemptions within the six months. The NFO remains open till April 26.

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Fidelity launches Special Situations Fund

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