Fidelity’s unique way of creating investors awareness

PFW Bureau / Feb 8

In a bid to generate investor’s awareness, Fidelity has decided to hold a “Rs.33,990 Tax Advantage Contest” about the ELSS category of funds as a tax-saving tool. The contest requires participants to answer four questions about ELSS after reading the information provided in the entry form and to say why ELSS is a good idea.

Explaining the importance of the investor’s education, Ashu Suyash, managing director and country head, Fidelity Fund Management said in a statement, “Our aim in running this contest is to increase awareness of the ELSS category of funds which provide an excellent means for saving tax while contributing to investors’ financial goals by creating wealth. Equities as an asset class outperform all other asset classes in the longer term. And so, as wealth builders, ELSS funds score over all other tax saving related investment avenues without sacrificing tax efficiency”.
“Investor education has a significant role to play in bringing in increasing numbers of investors into the mutual fund fold”, she added.
Fidelity’s distributors are an integral part of the contest. The entry forms will be available with them and the completed entry forms can also be returned to them. The entry forms will be available through newspaper advertisements. Or, use the web route by logging on to www.fidelity.co.in.
The calculations of the title “Rs 33,990 Tax Advantage Fund include applicable tax, surcharge and education cess for the highest income slab for the financial year 2007-08.
The contest will run between February 7 to 21. The first prize is a Honda city car and other prizes include 180cc Bajaj Avenger DTS-i Cruisers, Nokia Nseries mobile phones and iPod Shuffles.
It may be mentioned here that Fidelity Fund Management is the Indian arm of Fidelity International Limited, a leading global investment management company with operations in 23 countries. Fidelity Fund Management offers mutual fund schemes in India.