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The Fidelity Wealth Builder Fund is an open-end fund of funds portfolio that offers three types of asset allocation options within debt and equity holdings. This is a zero entry load fund with free switching between plans.
The fund offers three plans with varying levels of exposure to debt and equity that investors can choose from depending on their risk appetite. Under plan A, the fund will invest up to 85% of the assets in debt and around 15% in equities. Under plan B, the fund will invest around 30% of the assets in equities and the rest in debt. Under plan C, the fund will split the assets between equities and debt.
The fund allows investors to benefit from a disciplined asset allocation approach while being able to switch without added fees when the outlook for debt and equity changes or when the markets actually turn.
ôWe are in an environment where attractive returns are likely in the bond market and there is potential for bear-market rallies in equities on the back of increasingly attractive valuations,ö says Ashu Suyash, managing director and country head for India at Fidelity International.
The fund also offers potential quarterly dividends for plan A and plan B. Dividends may also be declared for plan C from time to time, depending on the discretion of the trustee.
Each of the fundÆs plans have a custom benchmark, which was created using the CRISIL Composite Bond Fund Index and the Bombay Stock Exchange (BSE) 200 Index. Credit Rating Information Services of India Limited (CRISIL) is a rating agency owned by Standard & PoorÆs.
Although the fund has no entry load, it does have an exit load of 1% for redemptions within a year from the date of purchase.
Fidelity International started operations in India in 2004. Its first fund, the Fidelity Equity Fund, was launched in March 2005. Today, the fund house manages more than Rs5,800 crores ($1.2 billion) in India and has more than 1.6 million customer accounts.
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