Saturday, June 9, 2007

New Equity scheme by FMF…..

In the name of Fidelity International Opportunities
Fund (FIOF),Fidelity Mutual Fund (MF) has launched an
equity scheme.It aims to give us a taste of
international markets in Asia -Pacific Countries. The
fund manager has the flexibility to invest in other
developed markets.It will invest up to 35 per cent in
international equities and the rest in Indian equity
markets.

With the Budget of 2006-07, giving an impetus to MFs
to launch schemes that invest in foreign countries,
fund houses are gearing to exploit this opportunity.
Equity funds need to invest at least 65 per cent of
their corpus in Indian equities to avail exemption
from long-term capital gains and dividend distribution
taxes. So, ignore the tax exemption and stick to a
fund that invests 100 per cent in international equities.
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