Fidelity Mutual Fund has come out with a new equity fund, the Fidelity International Opportunities Fund. It is an open-ended equity scheme, which will invest in equity and equity related securities of undervalued companies in Indian, and international markets to generate long term capital appreciation.
The investment approach adopted by the fund will be bottom-up stock picking favouring companies that offer best value relative to their respective long-term growth prospects, returns in capital and management quality.
A custom benchmark would be created using the BSE 200 Index to the extent of 65% of the portfolio and MSCI AC Asia Pacific ex Japan Index for the balance 35% to review the fund's performance.
Currently, there are two equity funds, which have a mandate to invest a part of their assets in international markets: Principal Global Opportunities Fund and Templeton India Equity Income Fund.
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