FIDELITY SMALL CAP STOCK FUND
SUPPLEMENT TO THE PROSPECTUS DATED JUNE 28, 1993
The following information replaces the fifth paragraph under the heading
"Share Price" on page 9.
The fund's sales charge may be reduced if you invest directly with Fidelity
or through prototype or prototype-like retirement plans sponsored by FMR
or FMR Corp. Purchases made with assistance or intervention from a
financial intermediary are not eligible. The amount you invest, plus the
value of your account, must fall within the ranges shown below. Call
Fidelity to see if your purchase qualifies.
Ranges Sales charge Net amount invested
$0 - 249,000 3% 3.09%
$250,000 - 499,999 2% 2.04%
$500,000 - 999,999 1% 1.01%
$1,000,000 or more none none
The sales charge will also be reduced by the percentage of any sales charge
you previously paid on investments in other Fidelity funds (not including
Fidelity's Foreign Currency Funds). Similarly, your shares carry credit for
any sales charge you would have paid if the reductions in the table above
had not been available. These sales charge credits only apply if you
continuously owned Fidelity fund shares or a Fidelity brokerage core
account, or participated in The CORPORATEplan for Retirement
Program, and only to purchases made in one of the following ways: (i) by
exchange from another Fidelity fund; (ii) with proceeds of a transaction
within a Fidelity brokerage core account, including any free credit
balance, core money market fund, or margin availability, to the extent such
proceeds were derived from redemption proceeds from another Fidelity
fund; (iii) with redemption proceeds from one of Fidelity's Foreign
Currency Funds, if the Foreign Currency Fund shares were originally
purchased with redemption proceeds from a Fidelity fund; (iv) through the
Directed Dividends Option (see page 12); or (v) by participants in The
CORPORATEplan for Retirement Program when shares are purchased
through plan-qualified loan repayments, and for exchanges into and out of
the Managed Income Portfolio.
FIDELITY SMALL CAP STOCK FUND
SUPPLEMENT TO THE PROSPECTUS DATED JUNE 28, 1993
The following information replaces the fifth paragraph under the heading
"Share Price" on page 9.
The fund's sales charge may be reduced if you invest directly with Fidelity
or through prototype or prototype-like retirement plans sponsored by FMR
or FMR Corp. Purchases made with assistance or intervention from a
financial intermediary are not eligible. The amount you invest, plus the
value of your account, must fall within the ranges shown below. Call
Fidelity to see if your purchase qualifies.
Ranges Sales charge Net amount invested
$0 - 249,000 3% 3.09%
$250,000 - 499,999 2% 2.04%
$500,000 - 999,999 1% 1.01%
$1,000,000 or more none none
The sales charge will also be reduced by the percentage of any sales charge
you previously paid on investments in other Fidelity funds (not including
Fidelity's Foreign Currency Funds). Similarly, your shares carry credit for
any sales charge you would have paid if the reductions in the table above
had not been available. These sales charge credits only apply if you
continuously owned Fidelity fund shares or a Fidelity brokerage core
account, or participated in The CORPORATEplan for Retirement
Program, and only to purchases made in one of the following ways: (i) by
exchange from another Fidelity fund; (ii) with proceeds of a transaction
within a Fidelity brokerage core account, including any free credit
balance, core money market fund, or margin availability, to the extent such
proceeds were derived from redemption proceeds from another Fidelity
fund; (iii) with redemption proceeds from one of Fidelity's Foreign
Currency Funds, if the Foreign Currency Fund shares were originally
purchased with redemption proceeds from a Fidelity fund; (iv) through the
Directed Dividends Option (see page 12); or (v) by participants in The
CORPORATEplan for Retirement Program when shares are purchased
through plan-qualified loan repayments, and for exchanges into and out of
the Managed Income Portfolio.
SCS-94-3 Page 1 of 3 June 1, 1994
SCS-94-3 Page 1 of 3 June 1, 1994
The following information supplements the sixth paragraph under the
heading "Share Price" on page 9.
(7) if you are a current or former trustee or officer of a Fidelity fund or
a
current or retired officer, director, or regular employee of FMR Corp. or
its direct or indirect Subsidiaries (a Fidelity Trustee or employee), the
spouse of a Fidelity trustee or employee, a Fidelity trustee or employee
acting as custodian for a minor child, or a person acting as trustee of a
trust
for the sole benefit of the minor child of a Fidelity trustee or employee;
(10) If you are a registered investment adviser (RIA) purchasing for your
discretionary accounts, provided you execute a Fidelity RIA load waiver
agreement which specifies certain aggregate minimum and operating
provisions. Except for correspondents of National Financial Services
Corporation, this waiver is available only for shares purchased directly
from Fidelity, and is unavailable if the RIA is part of an organization
principally engaged in the brokerage business.
(12) If you invest through a non-prototype pension or profit-sharing plan
that maintains all of its mutual fund assets in Fidelity mutual funds,
provided the plan executes a Fidelity non-prototype load waiver
agreement confirming its qualification.
(13) to shares purchased as part of a pension or profit-sharing plan as
defined in Section 401(a) of the Internal Revenue Code that maintains all
of its mutual fund assets in Fidelity mutual funds, provided the plan
executes a Fidelity non-prototype load waiver agreement confirming its
qualification.
The following information supplements the ninth paragraph under the
heading "Share Price" on page 9.
Effective February 1, 1994, the sales charge paid to qualified recipients
will be 2.25% of the fund's offering price.
The following information supplements the sixth paragraph under the
heading "Share Price" on page 9.
(7) if you are a current or former trustee or officer of a Fidelity fund or
a
current or retired officer, director, or regular employee of FMR Corp. or
its direct or indirect Subsidiaries (a Fidelity Trustee or employee), the
spouse of a Fidelity trustee or employee, a Fidelity trustee or employee
acting as custodian for a minor child, or a person acting as trustee of a
trust
for the sole benefit of the minor child of a Fidelity trustee or employee;
(10) If you are a registered investment adviser (RIA) purchasing for your
discretionary accounts, provided you execute a Fidelity RIA load waiver
agreement which specifies certain aggregate minimum and operating
provisions. Except for correspondents of National Financial Services
Corporation, this waiver is available only for shares purchased directly
from Fidelity, and is unavailable if the RIA is part of an organization
principally engaged in the brokerage business.
(12) If you invest through a non-prototype pension or profit-sharing plan
that maintains all of its mutual fund assets in Fidelity mutual funds,
provided the plan executes a Fidelity non-prototype load waiver
agreement confirming its qualification.
(13) to shares purchased as part of a pension or profit-sharing plan as
defined in Section 401(a) of the Internal Revenue Code that maintains all
of its mutual fund assets in Fidelity mutual funds, provided the plan
executes a Fidelity non-prototype load waiver agreement confirming its
qualification.
The following information supplements the ninth paragraph under the
heading "Share Price" on page 9.
Effective February 1, 1994, the sales charge paid to qualified recipients
will be 2.25% of the fund's offering price.
Page 2 of 3
Page 2 of 3
FINANCIAL HIGHLIGHTS. The following information supplements the
information set forth in the Prospectus. The table reports selected data
for a
share outstanding throughout the period June 28, 1993 (commencement of
operations) to October 31, 1993:
JUNE 28, 1993
(COMMENCEMENT OF
OPERATIONS) TO
OCTOBER 31, 1993
(UNAUDITED)
SELECTED PER-SHARE DATA
Net asset value, beginning of
period.......................................................
$10.00
Income from Investment Operations
Net investment
income....................................................................
.....
.01
Net realized and unrealized gain (loss) on
investments........................
.73
Total from investment
operations........................................................
.74
Net asset value, end of
period..................................................................
$ 10.74
TOTAL RETURN(dagger)(double
dagger)...................................................................
.....................
7.40%
RATIOS AND SUPPLEMENTAL DATA
Net assets, end of period (000
omitted)...................................................
$651,007
Ratio of expenses to average net assets
**................................................
1.40%*
Ratio of expenses to average net assets before expense reductions **.....
1.41%*
Ratio of net investment income to average net
assets..............................
.19%*
Portfolio turnover
rate......................................................................
.......
161%*
* ANNUALIZED
** SEE NOTE 5 OF NOTES TO FINANCIAL STATEMENTS.
(dagger) THE TOTAL RETURN DOES NOT INCLUDE THE ONE TIME SALES CHARGE AND
FOR PERIODS OF LESS THAN ONE
YEAR ARE NOT ANNUALIZED.
(double dagger) THE TOTAL RETURN WOULD HAVE BEEN LOWER HAD THE ADVISER
NOT REDUCED CERTAIN EXPENSES DURING
THE PERIOD SHOWN.
FINANCIAL HIGHLIGHTS. The following information supplements the
information set forth in the Prospectus. The table reports selected data
for a
share outstanding throughout the period June 28, 1993 (commencement of
operations) to October 31, 1993:
JUNE 28, 1993
(COMMENCEMENT OF
OPERATIONS) TO
OCTOBER 31, 1993
(UNAUDITED)
SELECTED PER-SHARE DATA
Net asset value, beginning of
period.......................................................
$10.00
Income from Investment Operations
Net investment
income....................................................................
.....
.01
Net realized and unrealized gain (loss) on
investments........................
.73
Total from investment
operations........................................................
.74
Net asset value, end of
period..................................................................
$ 10.74
TOTAL RETURN(dagger)(double
dagger)...................................................................
.....................
7.40%
RATIOS AND SUPPLEMENTAL DATA
Net assets, end of period (000
omitted)...................................................
$651,007
Ratio of expenses to average net assets
**................................................
1.40%*
Ratio of expenses to average net assets before expense reductions **.....
1.41%*
Ratio of net investment income to average net
assets..............................
.19%*
Portfolio turnover
rate......................................................................
.......
161%*
* ANNUALIZED
** SEE NOTE 5 OF NOTES TO FINANCIAL STATEMENTS.
(dagger) THE TOTAL RETURN DOES NOT INCLUDE THE ONE TIME SALES CHARGE AND
FOR PERIODS OF LESS THAN ONE
YEAR ARE NOT ANNUALIZED.
(double dagger) THE TOTAL RETURN WOULD HAVE BEEN LOWER HAD THE ADVISER
NOT REDUCED CERTAIN EXPENSES DURING
THE PERIOD SHOWN.
Page 3 of 3
Page 3 of 3
FIDELITY SMALL CAP STOCK FUND
SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION
DATED JUNE 28, 1993
ADDITIONAL PURCHASE AND REDEMPTION INFORMATION. The fund's sales charge
may be reduced to reflect sales charges previously paid, or that would have
been paid absent a reduction as noted in the prospectus, in connection with
investments in other Fidelity funds. This includes reductions for
investments in prototype or prototype-like retirement plans sponsored by
FMR or FMR Corp., which are listed on page 13.
The following information replaces example 8 found in the section entitled
"Additional Purchase and Redemption Information" on page 13.
(8) if you are a current or former Trustee or officer of a Fidelity fund
or a current or retired officer, director, or regular employee of FMR Corp.
or its direct or indirect subsidiaries (a Fidelity Trustee or employee),
the spouse of a Fidelity Trustee or employee, a Fidelity Trustee or
employee acting as custodian for a minor child, or a person acting as
trustee of a trust for the sole benefit of the minor child of a Fidelity
Trustee or employee;
The following information supplements that found in the section entitled
"Additional Purchase and Redemption Information" on page 13.
(11) if you are a registered investment adviser (RIA) purchasing for your
discretionary accounts, provided you execute a Fidelity RIA load waiver
agreement which specifies certain aggregate minimum and operating
provisions. This waiver is available only for shares purchased directly
from Fidelity, without a broker, unless purchased through a brokerage firm
which is a correspondent of National Financial Services Corporation (NFSC).
The waiver is unavailable, howev,er if the RIA is part of an organization
principally engaged in the brokerage business, unless the brokerage firm in
the organization firm in the organization is an NFSC correspondent;
(12) if you are a trust institution or bank trust department purchasing
for your non-discretionary, non-retirement fiduciary accounts, provided you
execute a Fidelity Trust load waiver agreement which specifies certain
aggregate minimum and operating provisions. This waiver is available only
for shares purchased either directly from Fidelity or through a
bank-affiliated broker, and is unavailable if the trust department or
institution is part of an organization not principally engaged in banking
or trust activities; or.
(13) to shares purchased as part of a pension or profit-sharing plan as
defined in Section 401(a) of the Internal Revenue Code that maintains all
of its mutual fund assets in Fidelity mutual funds, provided the plan
executes a Fidelity non-prototype sales charge waiver request form
confirming its qualification.
MANAGEMENT CONTRACT. Effective November 1, 1993, FMR agreed to voluntarily
adopt the revised group fee rate schedule shown below for purposes of
calculating the group fee component of the management fee. The revised
schedule provides for lower management fees as total assets under
management increase, and it will be presented to shareholders for approval
at the next shareholder meeting.
GROUP FEE RATE SCHEDULE EFFECTIVE ANNUAL FEE RATES
Average Group Annualized Group Net Effective Annual Fee Rate
Assets Rate Assets
0 - $ 3 billion .520% $ 0.5 billion .5200%
3 - 6 .490 25 .4238
6 - 9 .460 50 .3823
9 - 12 .430 75 .3626
12 - 15 .400 100 .3512
15 - 18 .385 125 .3430
18 - 21 .370 150 .3371
21 - 24 .360 175 .3325
24 - 30 .350 200 .3284
30 - 36 .345 225 .3253
36 - 42 .340 250 .3223
42 - 48 .335 275 .3198
48 - 66 .325 300 .3175
66 - 84 .320 325 .3153
84 - 102 .315 350 .3133
102 - 138 .310
138 - 174 .305
174 - 228 .300
228 - 282 .295
282 - 336 .290
Over 336 .285
SCSB-94-3 June 1, 1994
