Fidelity India Children's Plan Launched

Fidelity India announced on 17 January 2011 the launch of a new plan, Fidelity India Children's Plan. Fidelity India Children's Plan comprises three open-ended hybrid schemes focused on education, marriage and savings fund. The fund offer will close on 31 January 2011.

The education fund plans to invest around 70 per cent of its corpus in equity and 30 per cent in debt, while the marriage fund will invest 70 per cent in equity, 20 per cent in gold exchange traded funds and 10 per cent in debt. The investments will be made on behalf of a minor. The minimum lump sum investment is Rs 5000. The minimum SIP investment is Rs 500. Systematic withdrawal of plans will be made available along with systematic transfer plans. In addition there will be no charge for switching between different options of the same fund or between funds within the plan and for transfers under STP.