Fidelity Tax Advantage Fund wins three Awards in a Row

Awarded in the ELSS category by CNBC TV18 - CRISIL, Morningstar India and ICRA

Fidelity Tax Advantage Fund’s consistent performance has been recognized by three independent mutual fund ranking and rating agencies. The Fidelity Tax Advantage Fund has been named the Mutual Fund of the year by Morningstar India and CNBC TV18–CRISIL in the Equity Linked Savings Schemes (ELSS) category. The Fidelity Tax Advantage Fund has also received the ICRA 7-Star Gold Award in the Equity Linked Savings Schemes (ELSS) category for its 3-year performance as on 31 December 2010.

Ashu Suyash, Managing Director and Country Head - India, Fidelity International, said, “We are delighted with the Fidelity Tax Advantage Fund being adjudged as the best fund in the ELSS category at the CNBC TV18 – CRISIL, ICRA and Morningstar India Awards. These accolades highlight the consistent performance the fund has delivered over the last five years since its inception. The Fidelity Tax Advantage Fund has not only offered our investors the opportunity to save tax under Section 80C but has also helped them stay ahead of other tax saving options by harnessing the growth potential of equities”

Sandeep Kothari, Portfolio Manager, Fidelity Tax Advantage Fund and Fidelity Equity Fund, remarked, “Our philosophy is to look at the long-term prospects for a business, the scalability of the business model, management track record and valuations. This approach combined with a focus on risk-adjusted returns has contributed significantly to the funds’ long term performance. “

Disclaimer and Ranking Methodology
CNBC TV18 - CRISIL Mutual Fund of the Year Award for 2011
Fidelity Tax Advantage Fund (Category - Equity Linked Savings Schemes)

Fidelity Tax Advantage Fund was the only scheme that won the CNBC TV18 - CRISIL Mutual Fund of the Year Award in the Equity Linked Savings Schemes category. In total 25 schemes were eligible for the award universe. Schemes present in all four quarterly CRISIL Mutual Fund Ranking were considered for the award. The award is based on consistency of the scheme’s performance in the four quarterly CRISIL Mutual Fund Rankings released during the calendar year 2010. The individual CRISIL Mutual Fund Ranking parameter scores averaged for the four quarters were further multiplied by the parameter weights as per the CRISIL Mutual Fund Ranking methodology to arrive at the final scores. A detailed methodology of the CRISIL Mutual Fund Ranking is available at www.crisil.com.Past performance is no guarantee of future results.

Rankings and Award Source: CRISIL FundServices, CRISIL Ltd.

CNBC TV18 - CRISIL Mutual Fund of the Year Award for 2011
Fidelity India Growth Fund (Category - Large Cap Oriented Funds)

Fidelity India Growth Fund was the only scheme that won the CNBC TV18 - CRISIL Mutual Fund of the Year Award in the Large Cap Oriented Funds category. In total 28 schemes were eligible for the award universe. Schemes present in all four quarterly CRISIL Mutual Fund Ranking were considered for the award. The award is based on consistency of the scheme’s performance in the four quarterly CRISIL Mutual Fund Rankings released during the calendar year 2010. The individual CRISIL Mutual Fund Ranking parameter scores averaged for the four quarters were further multiplied by the parameter weights as per the CRISIL Mutual Fund Ranking methodology to arrive at the final scores. A detailed methodology of the CRISIL Mutual Fund Ranking is available at www.crisil.com.Past performance is no guarantee of future results.

Rankings and Award Source: CRISIL FundServices, CRISIL Ltd.

Fidelity Tax Advantage Fund has been ranked as a Seven Star Fund in the category of ‘Open Ended Equity Linked Savings Scheme (ELSS)’ schemes for its 3 year performance till December 31, 2010.
The rank is an outcome of an objective and comparative analysis against various parameters, including: risk adjusted return, fund size, company concentration and portfolio turnover. The ranking methodology did not take into account loads imposed by the Fund. There were 23 schemes considered in ‘Open Ended Equity Linked Savings Scheme (ELSS)’ category for the ranking exercise. The rank is neither a certificate of statutory compliance nor any guarantee on the future performance of Fidelity Mutual Fund.

Ranking Source & Publisher: ICRA Online Limited
Morningstar Award Source: Fidelity Tax Advantage Fund - Dividend has been awarded the Morningstar Fund Award (India) in the 'India Open-Ended ELSS (Tax Savings)' category for its one and three-year performance ending December 31, 2010. The methodology eliminates schemes based on fund size, below-median calendar year returns, and allocates a score on the basis of returns in one-year and three-year periods and the risk rank for a three-year period. The methodology also includes various qualitative measures like the portfolio manager's tenure with the fund, the fund's deviation from its investment mandate, among others. There were 18 fund classes considered in 'India Open- Ended ELSS (Tax Savings)' category for the award exercise. Loads were not considered while calculating returns. The award should not be construed as an offer, the solicitation of an offer, to buy or sell securities, by Morningstar. It is neither a certificate of statutory compliance nor any guarantee on the future performance.

Ranking Source: Morningstar India.

About FIL Fund Management Private Limited:
FIL Fund Management Private Limited (FFMPL), Fidelity International’s Indian asset management company started operations in the country in 2004. Today, with total assets under management of over Rs.9200 crores (AUM as on 31 January 2011) and more than 10 lakhs customer accounts, FFMPL is among the fastest growing new asset management companies in India. In addition to offices in 16 cities, it has a significant web presence which helps investors across India access Fidelity’s funds. Further, most of its funds are listed on the NSE’s Mutual Fund Service System (MFSS) and the BSE’s StAR MF Platform, reaching out to investors in over 1500 cities and towns. Fidelity today offers Indian investors a comprehensive range of well-differentiated investment options through its seven equity funds and seven fixed income / hybrid funds. For more information, please visit www.fidelity.co.in.

About Fidelity:
Fidelity International provides investment products and services to individuals and institutional investors in Europe and Asia. Established in 1969, the company has over 4,502 staff in 23 offices and manages US$231.6 billion Assets Under Management (as at Sept 2010). The company has 6 million customer holdings and manages over 700 equity, fixed income, property and asset allocation funds. Fidelity has one of the largest proprietary research teams in the world covering 98% of the world's stock markets. This includes over 300 investment professionals plus an additional 600 from associated companies contributing to and sharing investment ideas used by Fidelity's portfolio managers. Fidelity International is owned by its founding family, management and senior staff with a strong balance sheet and net regulatory capital (Tier 1) significantly in excess of capital requirements.