Fidelity Asset Management Company, today announced the new fund offer (NFO) of its Fidelity Fixed Maturity Plan, Series I-Plan B with a duration of 370 days from the date of allotment of units.
The NFO opens for subscription on September 3 and will close for subscription on September 10, a release said here.
Fidelity AMC is the Indian arm of Fidelity International.
The scheme is a close-ended debt scheme with an objective to seek to generate reasonable returns and reduce interest rate volatility primarily through investment in money-market and short-term debt instruments with a maturity profile generally in line with the plan's duration, it said.
The fund offers both, retail and institutional plans.
The minimum application amount for the retail plan is Rs 5,000 and under the institutional plan, it is Rs 1-crore.
More From This Section
The fund would offer a redemption facility on the maturity date without the payment of any load.
Redemptions before the maturity date would be subject to an exit load of 2 per cent.