Saturday, May 30, 2015

L&T (Fidelity) Equity Fund

I had made my first equity investment in the NFO of Fidelity, way back in 2005. I was looking into the financial products available for small investors and was thinking of exploring equity markets. Fidelity had then introduced its maiden equity fund in India, named Fidelity Equity Fund. I had heard about Fidelity, did some research on its background and based on that decided to make a small investment in this fund. Luckily, some Investment Agent had called me for selling some other fund at that time (probably one of ABN Amro funds). Instead of investing in his recommendations, I asked him to invest in Fidelity Equity Fund. I remember he tried to discourage me from doing so (he was linked to ABN Amro Bank) but I persisted. So, thats how I made my first equity investment!
Years passed on and I am still invested in the fund. Only change is that it is now known as L&T Equity Fund (sadly, Fidelity withdrew from Indian mutual funds in 2012 or 2013).

It has been a topsy-turvy ride in FEQ/LEQ in these 10 years, but it has managed to be more than six times the original investment after a lot of ups and downs. Just have a look at the below graph of its performance over last 10 years.

https://www.valueresearchonline.com/funds/newsnapshot.asp?schemecode=2686
Returns of Fund since inception against its benchmark
It has managed to give CAGR of 19.84% (all tax-free!)
You can get more info in the fund at ValueResearch.

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