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Fidelity MF to pay bonus to loyal investors

Eligible investors will receive two free units at present NAV for 500 units of fund

 
In an effort to keep investors locked in for a longer duration in its scheme, Fidelity Mutual Fund has announced a loyalty premium to those who have remained invested in Fidelity Equity Fund since its inception.

The eligible investors will receive two free units at present net asset value (NAV) for every 500 units of Fidelity Equity Fund held since inception. The units will be added to investors' portfolio on May 18.

Fidelity Equity Fund was the first fund of FIL Fund Management, which opened for subscription in May 2005. Since inception, the fund has given an annualised return of 25.23 per cent. The scheme had Rs 2,871 crore asset under management as on April 30.

Ashu Suyash, MD and country head of Fidelity International, said: "We are delighted to offer this loyalty premium. We hope this will encourage more customers to stay invested in our equity funds in their own best interest."

The mutual fund industry in India suffers from investors' short-term investment patterns. The average investment period in an equity fund in India is 18 months. According to recent Amfi (Association of Mutual Funds in India) data, close to 40 per cent of retail investors pull out their money from equity funds in less than two years. In the high net worth individual category, only 48 per cent investors remain invested in equity funds for more than two years.

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