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:

    Hi Ashal

    Details are :

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

    Thanks
    Hari Sudhan

    1. 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

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

    Thanks

    Ashal

  3. Ramesh says:

    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.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Join 1,60,000 email subscribers

FREE Video Lessons directly in your email daily

144 page PDF ebook with best articles from Jagoinvestor

Get future articles directly on your mailbox + updates


6 PART VIDEO COURSE

FREE 

 

 

You are subscribed for FREE Course now, Check your Email

CONGRATULATIONS

Join 1,60,000 email subscribers

FREE Video Lessons directly in your email daily

144 page PDF ebook with best articles from Jagoinvestor

Get future articles directly on your mailbox + updates


6 PART VIDEO COURSE

FREE 

 

 

You are subscribed for FREE Course now, Check your Email

CONGRATULATIONS