Fidelity Equity Fund - Diversified Advantage
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The Fidelity Equity Fund is a diversified equity fund that follows the bottom-up stock picking approach, focussing entirely on the core strength of a company without bias towards any sector or market capitalisation. However, the fund is inclined more towards Large-Cap stocks. Around 80% of its net assets are invested in Large-Caps and 20% in Mid- and Small-Cap stocks.
This fund is managed by one of the most skilled portfolio managers, Sandeep Kothari, who has over 18 years of experience in research and portfolio management. The fund manager works very closely with the research team in India, and also gets support from the international research team. The fund has performed well, with 18.95% CAGR since its launch in April 2005. It has been one of the most consistent performers, and has outperformed its category average as well as the benchmark across all time periods. In 2010, this was the second best fund in its category.
The Fidelity Equity Fund is fairly diversified, with around 60-70 stocks in its portfolio. The top 10 stocks account only for 39.71% of the portfolio. As of September 2011, the fund is overweight on Pharma and Gas, and underweight on Software and Consumer Non-durables.
This fund is ideal for core equity exposure in the investors’ portfolio, as the Fund Manager has the freedom to invest regardless of sector, market cap or investment style. It can be viewed as a long-term growth opportunity, especially because the manager has a bias towards companies with superior earnings growth potential over 1 or 2 years.
| Fact Sheet |
| AMC | Fidelity Asset Management Company Ltd |
| Structure | Equity Diversified |
| Investment Option | Growth & Dividend |
| Exit load | 1% for redemption within 365 days of allotment |
| Corpus | Rs 3387.30 crore (30/09/11) |
| 52 Weeks High/ Low | Rs 38.08 (02/12/10) / Rs 30.91 (23/11/11) |
| Minimum Investment | Rs 5000 |
| Benchmark | BSE 200 |
| Launch Date | April 2005 |
| Fund Manager/s | Sandeep Kothari, Anirudh Gopalakrishnan |
| Trailing returns (%) as on 25/11/2011 |
| Time Frames | Fund | Category |
| Year-to-Date | -18.16 | -20.9 |
| 1-Year | -15.28 | -18.16 |
| 3-Year | 28.28 | 22.07 |
| 5-Year | 8.6 | 4.47 |
| Returns up to 1 year are absolute and over 1 year are annualized |
| Top Five Holdings (% of Net Asset as on 30/09/11) |
| Reliance Industries | 6.75% |
| ITC | 5.07% |
| ICICI Bank | 4.60% |
| Infosys Technologies | 4.44% |
| HDFC Bank | 4.27% |
| Total of Ten Holdings | 39.71% |