Fidelity MF Mulls Fund To Target Growth Stocks

MUMBAI: Fidelity Fund Management Pvt Ltd on Aug 2, filed papers with the market regulator to unveil an equity fund that will infuse mainly in stocks of growth-oriented companies in domestic and international markets. Fidelity India Growth Fund will infuse at least 80 per cent of the assets in equities and the rest in debt and money market instruments, the fund house said in its offer document. The fund will charge an entry load of 2.25 per cent on investment of less than Rs 50 million and none above that. The fund house managed assets worth about Rs 9600 crores at the end of July, data from Association of Mutual Funds in India showed.