SUPPLEMENT TO THE
FIDELITY TREND FUND AND
FIDELITY VALUE FUND
PROSPECTUS
DATED FEBRUARY 19, 1994
The following information
pertaining to Fidelity Trend
Fund replaces the
corresponding information
found in the section entitled
"Expenses and Performance"
on page 4.
ANNUAL FUND OPERATING
EXPENSES
are paid out of the fund's
assets. The fund pays a
management fee that varies
based on its performance. It
also incurs other expenses for
services such as maintaining
shareholder records and
furnishing shareholder
statements and fund reports.
The fund's expenses are
factored into its share price or
dividends and are not charged
directly to shareholder
accounts (see page 24).
The following are projections
based on historical expenses,
adjusted to reflect the current
contract, and are calculated as
a percentage of average net
assets. A portion of the
brokerage commissions that
the fund paid was used to
reduce fund expenses. Without
this reduction, the fund's total
operating expenses would have
been 1.03 %.
Management fee .75%
12b-1 fee None
Other expenses .27%
Total fund operating expenses
1.02%
EXAMPLES: Let's say,
hypothetically, 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 $10
After 3 years $32
After 5 years $56
After 10 years $125
These examples illustrate the
effect of expenses, but are not
meant to suggest actual or
expected costs or returns, all of
which may vary.
SUPPLEMENT TO THE
FIDELITY TREND FUND AND
FIDELITY VALUE FUND
PROSPECTUS
DATED FEBRUARY 19, 1994
The following information
pertaining to Fidelity Trend
Fund replaces the
corresponding information
found in the section entitled
"Expenses and Performance"
on page 4.
ANNUAL FUND OPERATING
EXPENSES
are paid out of the fund's
assets. The fund pays a
management fee that varies
based on its performance. It
also incurs other expenses for
services such as maintaining
shareholder records and
furnishing shareholder
statements and fund reports.
The fund's expenses are
factored into its share price or
dividends and are not charged
directly to shareholder
accounts (see page 24).
The following are projections
based on historical expenses,
adjusted to reflect the current
contract, and are calculated as
a percentage of average net
assets. A portion of the
brokerage commissions that
the fund paid was used to
reduce fund expenses. Without
this reduction, the fund's total
operating expenses would have
been 1.03 %.
Management fee .75%
12b-1 fee None
Other expenses .27%
Total fund operating expenses
1.02%
EXAMPLES: Let's say,
hypothetically, 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 $10
After 3 years $32
After 5 years $56
After 10 years $125
These examples illustrate the
effect of expenses, but are not
meant to suggest actual or
expected costs or returns, all of
which may vary.
TRE/VAL - 94 - 1 March 28, 1994
TRE/VAL - 94 - 1 March 28, 1994
