Fidelity Equity Fund – Gr

POSTED BY Hari Sudhan ON July 3, 2012 12:42 pm COMMENTS (4)

Hai

I have been investing in Fidelity equity fund -growth from October 2010 as a SIP of weekly 1k till date. Currently I am on a loss of Rs.700 (approx). Now, my financial planner says it is better to stop the SIP for this fund ( redemption shall be done based on when this fund would reach the average value which is 34.24 for my investment to be a no-loss no-profit state)

The reason my financial planner said for this exit from this fund is as Fidelity has been acquired (by L&T, I think)

Please let me know if this move is correct ?

Thanks
Hari Sudhan

4 replies on this article “Fidelity Equity Fund – Gr”

  1. Hari Sudhan says:
    July 4, 2012 at 11:31 am

    Hi Ashal

    Details are :

    Invested amount = 86,000
    Current value (as of July-4,2012) = 84,615

    Thanks
    Hari Sudhan

    Reply
    1. Ashal Jauhari says:
      July 5, 2012 at 12:41 am

      Dear Hari, in the light of the info that Canara Robeco’s CIO (mainly responsible for improved performance of Canara Eq. schemes) is joining L&T AMC, can you hold Fidelity for a while?

      Thanks

      Ashal

      Reply
  2. Ashal Jauhari says:
    July 3, 2012 at 11:01 pm

    Dear Hari, May I know the invested amount till date & the current valuation?

    Thanks

    Ashal

    Reply
  3. Ramesh says:
    July 3, 2012 at 1:31 pm

    I think it is a correct move, because of the reason of change of management, and NOT because it has not performed. Good call.

    Investing in a similar type of good fund with consistent management team is a better choice. Do tell us, what fund he has recommended to you.

    Regarding redemption, it is his + your call. Works either way. But doing redemption during the free-period, when the name will get changed and SEBI will provide a window is a better thing.

    Also, FYI, L&T have got on board the fund manager of Canara Robeco’s (diversified and many others, which had a decent performance run). BUT, let the new manager prove himself, and only then put your faith back in.

    Reply

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