Fidelity International announced the launch of its Fidelity Flexi Gilt Fund, an open ended gilt scheme that aims to generate sovereign linked returns primarily through investments in securities issued by the Central / State Government or any security unconditionally guaranteed by the Central / State Government. The NFO for the fund will be open from July 23 - 31, 2008 and thereafter it will open for ongoing purchases and redemptions from August 8, 2008.  Sameer Kulkarni is the fund manager of the Fidelity Flexi Gilt Fund, which is benchmarked to the I Sec Composite Gilt Index. The minimum initial investment is Rs. 5000. The Fund has no entry load, but an exit load of 0.50% will be applicable for redemptions within 6 months from the date of purchase, in case of purchase amount less than Rs. 50, 00, 000 applying First in First Out basis. A switch-out or a withdrawal under SWP or transfer under STP may also attract an exit load / CDSC like any redemption. Investors can invest in the Fidelity Flexi Gilt Fund even through the SIP route with a minimum amount of Rs. 500 per installment with the total of all installments not being less than Rs. 5000/- In addition, the systematic transfer and withdrawal plans are available as well.

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