SUPPLEMENT TO THE
FIDELITY SHORT-TERM
BOND PORTFOLIO AND
FIDELITY INVESTMENT
GRADE BOND FUND
PROSPECTUS
DATED JUNE 24, 1995
The following information
replaces that found in the
section entitled "Investment
Principles and Risks,"
beginning on page 11.
INVESTMENT GRADE BOND
seeks high current income,
consistent with reasonable
risk, by investing in a broad
range of fixed-income
securities. FMR normally
invests at least 65% of the
fund's total assets in debt
securities of
investment-grade quality. The
fund also considers
preservation of capital and,
where appropriate, takes
advantage of opportunities to
realize capital appreciation.
The following restrictions
replace those found in the
section entitled "Debt
Securities," beginning on
page 12.
RESTRICTIONS: For Short-Term
Bond, purchase of a debt
security is consistent with the
fund's debt quality policy if it
is rated at or above the
stated level by Moody's or
rated in the equivalent
categories by S&P, or is
unrated but judged to be of
equivalent quality by FMR.
The fund currently intends to
limit its investments in debt
securities to those of
Baa-quality or above. For
Investment Grade Bond, the
fund currently limits its
investments in lower than
Baa-quality debt securities,
as rated by Moody's, or rated
in the equivalent categories
by S&P, or unrated but
judged to be of equivalent
quality by FMR, to 35% of its
assets. The fund also
currently intends to limit its
investments in debt securities
to those rated B or above by
Moody's or S&P.
SUPPLEMENT TO THE
FIDELITY SHORT-TERM
BOND PORTFOLIO AND
FIDELITY INVESTMENT
GRADE BOND FUND
PROSPECTUS
DATED JUNE 24, 1995
The following information
replaces that found in the
section entitled "Investment
Principles and Risks,"
beginning on page 11.
INVESTMENT GRADE BOND
seeks high current income,
consistent with reasonable
risk, by investing in a broad
range of fixed-income
securities. FMR normally
invests at least 65% of the
fund's total assets in debt
securities of
investment-grade quality. The
fund also considers
preservation of capital and,
where appropriate, takes
advantage of opportunities to
realize capital appreciation.
The following restrictions
replace those found in the
section entitled "Debt
Securities," beginning on
page 12.
RESTRICTIONS: For Short-Term
Bond, purchase of a debt
security is consistent with the
fund's debt quality policy if it
is rated at or above the
stated level by Moody's or
rated in the equivalent
categories by S&P, or is
unrated but judged to be of
equivalent quality by FMR.
The fund currently intends to
limit its investments in debt
securities to those of
Baa-quality or above. For
Investment Grade Bond, the
fund currently limits its
investments in lower than
Baa-quality debt securities,
as rated by Moody's, or rated
in the equivalent categories
by S&P, or unrated but
judged to be of equivalent
quality by FMR, to 35% of its
assets. The fund also
currently intends to limit its
investments in debt securities
to those rated B or above by
Moody's or S&P.
BON-95-2 July, 1995
BON-95-2 July, 1995
