Fidelity MF Plans Five FoFs

Kolkata: Fidelity Mutual Fund has planned a feeder product, comprising of five separate FoFs (Fund of Funds), each of which will infuse in an underlying fund. Each of the underlying funds is a Fidelity sub-fund. The proposed Fidelity World Fund Range will offer the following plans: American, European, Pacific, emerging markets and international. Fidelity America Plan will invest in Fidelity Funds - America Fund, an offshore fund unveiled by Fidelity Funds.
The other underlying funds are Fidelity Funds - Emerging Markets Fund (which mainly invests in securities from Latin America, South-East Asia, Africa, Eastern Europe and West Asia), Fidelity Funds - European Growth Fund, Fidelity Funds - International Fund, Fidelity Funds; Pacific Fund (for investment in equities in countries with a Pacific sea coast, primarily Japan, South-East Asia and the US). The offer document registered with SEBI indicates that each plan will use a specific benchmark for comparing performance. For instance, Fidelity America Plan will use Standards & Poor's 500 Composite Index, Fidelity International Plan will use MSCI World Index and Fidelity Pacific Plan will use Pacific Fund Composite Index. The fund house has also planned an open-end debt fund. The proposed Fidelity Cash Plus Fund will offer retail, institutional and super-institutional plans.