Mumbai: Fidelity Fund Management has announced dividends in the Fidelity Equity Fund and the Fidelity Tax Advantage Fund.
Dividend in the Fidelity Equity Fund is Rs2.50 per unit (face value of Rs10 per unit) and the maiden dividend in the Fidelity Tax Advantage Fund is Rs1.50 per unit (face value of Rs10 per unit).
Both are subject to availability of distributable surplus. All investors registered in the Dividend Option of the two funds as on March 13, 2008 will be entitled to this dividend which will be tax-free in the hands of the investors.
Pursuant to payment of dividend, the Net Asset Value per unit of the dividend options of the respective schemes will fall to the extent of the payment and statutory levy (if applicable). Under the dividend reinvestment option, the dividend declared will be re-invested at the ex-dividend NAV.
Fidelity Fund Management Private Limited provides mutual funds, retirement services, including defined benefit and defined contribution pension schemes, and specialist institutional mandates to individual and institutional investors outside the Americas.