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Mutual Fund Review: FIDELITY EQUITY FUND

Investment Strategy:

The fund invests in 60 to 80 stocks across market capitalisation. In the past three years, large cap stocks on an average account for 78.5% of the portfolio, midcap stocks account for 8.3% of the portfolio, small cap stocks account for 6.5% of the portfolio and cash holdings account for 5.4% of the portfolio.

Banking, Information Technology, Refineries, Pharmaceuticals and Cigarettes are the important sectors for this portfolio. These five sectors on an average account for 44.4% of the portfolio. Banking is the largest sector and allocation to banking has never fallen below 15% in the past three years. The Cigarettes sector has seen considerable allocation. From 1.6% exposure to the sector in December 2007, the fund has 4.35% of its portfolio in the cigarette sector as of December 2010.

Asset Size:

The fund's AUM is around Rs. 3288 crore as at 31 March 2011.

Performance:

This fund is one of the better performing domestic equity funds in India and the second best performing multi cap fund on our platform over a 5 year period (31 December 2005 to 31 December 2010).

This fund has outperformed its benchmark, the BSE 200 Index across all periods, right from six months till since inception. Over a 1 year period, this fund has given 26.9% while its benchmark has given 16.22% and over a 5 year period, this fund has given 21.3% while its benchmark has given 16.4% 
 

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