F U N D P R O F I L E
FIDELITY INTERMEDIATE
BOND FUND
Intermediate Bond is a bond fund
whose goal is to seek high current income.
AUGUST 1, 1995
(registered trademark)
The Fund Profile contains key information about the fund.
More details appear in the fund's accompanying Prospectus.
FIDELITY INTERMEDIATE BOND FUND
ESSENTIAL QUESTIONS EVERY INVESTOR SHOULD ASK
1. WHAT IS THE FUND'S GOAL?
Fidelity Intermediate Bond Fund is a bond fund whose goal is to seek high
current income.
2. WHAT IS THE FUND'S INVESTMENT STRATEGY?
The fund invests in domestic and foreign investment-grade debt securities
and normally maintains an average maturity between three and ten years.
3. WHAT ARE THE SIGNIFICANT RISKS?
The performance of the fund depends on the value of its holdings. The
fund's yield and share price change based on changes in interest rates,
market conditions, and other political and economic events, and the quality
and maturity of its investments. In general, bond prices rise when interest
rates fall, and vice versa. This effect is usually more pronounced for
longer-term securities. Investments in foreign securities involve risks
that are in addition to those of U.S. investments, including increased
political and economic risk, as well as exposure to currency fluctuations.
When you sell your shares of the fund, they may be worth more or less than
what you paid for them.
4. IS THE FUND APPROPRIATE FOR ME?
The fund may be appropriate for investors who want high current income from
a portfolio of investment-grade debt securities. With its focus on medium-
to high-quality investments and intermediate maturity, the fund has a
moderate risk level and yield potential. The fund by itself is not a
balanced investment plan.
5. WHAT ARE THE FUND'S EXPENSES?
Shareholder transaction expenses are charges you pay when you buy, sell or
hold shares of a fund.
Maximum sales charge on purchases and reinvested None
distributions
Deferred sales charge on redemptions None
Exchange fee None
Annual account maintenance fee (for accounts under $12.0
$2,500) 0
ANNUAL FUND OPERATING EXPENSES are paid out of the fund's assets.
The fund's expenses are factored into its share price or dividends and are
not charged directly to shareholder accounts. The following are projections
based on historical expenses, adjusted to reflect current fees, and are
calculated as a percentage of average net assets.
Management fee .46%
12b-1 fee None
Other expenses .33%
TOTAL FUND OPERATING .79%
EXPENSES
EXAMPLES: Let's say, hypothetically, that the fund's annual
return is 5% and that its operating expenses are exactly as just described.
For every $1,000 you invested, here's how much you would pay in total
expenses if you close your account after the number of years indicated:
After 1 year After 3 years After 5 years After 10
years
$8 $25 $44 $98
These examples illustrate the effect of expenses, but are not meant to
suggest actual or expected costs or returns, all of which may vary.
6. HOW HAS THE FUND PERFORMED?
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Calendar Years 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994
20.56% 13.28% 2.00% 7.22% 11.82% 7.54% 14.50% 6.08% 11.96% -2.01%
</TABLE>
Row: 1, Col: 1, Value: 11.78
Row: 2, Col: 1, Value: 20.56
Row: 3, Col: 1, Value: 13.28
Row: 4, Col: 1, Value: 2.0
Row: 5, Col: 1, Value: 7.22
Row: 6, Col: 1, Value: 11.82
Row: 7, Col: 1, Value: 7.54
Row: 8, Col: 1, Value: 14.5
Row: 9, Col: 1, Value: 6.08
Row: 10, Col: 1, Value: 11.96
Row: 11, Col: 1, Value: -2.01
Annual Total
Returns
Percentage (%)
Average Annual total Past 1 year Past 5 Past 10
returns years years
For the fiscal periods 8.68% 8.55% 8.76%
ended June 30, 1995
Total returns are based on past results and are not an indication of
future performance.
7. WHO IS THE FUND'S INVESTMENT MANAGER?
Fidelity Management & Research Company (FMR) is the fund's investment
manager.
8. HOW DO I BUY SHARES?
Complete the enclosed application or call 1-800-544-7777 to open your
account by exchange or bank wire. The minimum initial investment is $2,500.
The minimum additional investment is $250.
9. HOW DO I SELL SHARES?
You may redeem all or a portion of your shares on any business day by
written request, telephone or wire transfer.
10. HOW ARE DISTRIBUTIONS MADE?
The fund distributes substantially all of its net investment income and
capital gains each year. Income distributions are declared daily and paid
monthly. Capital gains are normally distributed in June and December.
Distributions are reinvested automatically in additional shares unless you
elect another option.
11. WHAT SERVICES ARE AVAILABLE?
Fidelity provides a wide variety of services including 24-hour telephone
service providing information and assistance, periodic statements and
reports, regular investment plans, checkwriting and free exchanges among
Fidelity funds. Fidelity reserves the right to modify or withdraw the
exchange privilege.
82 Devonshire Street, Boston, Massachusetts 02109
IBF-prpro-895
