SUPPLEMENT TO THE
FIDELITY SHORT-TERM BOND PORTFOLIO AND
FIDELITY INVESTMENT GRADE BOND FUND
PROSPECTUS
DATED JUNE 24, 1995
Revised October 13, 1995
On February 20, 1996, Fidelity Short-Term Bond Portfolio's name changed
to Fidelity Short-Term Bond Fund.
The following information replaces the similar information found in the
third paragraph of the section entitled "Investment Principles and Risks,"
beginning on page 11.
Investment Grade Bond invests in a broader range of debt securities,
including lower quality securities, and has no stated maturity policy.
Although the fund can invest in securities of any maturity, FMR seeks to
manage the fund so that it generally reacts to changes in interest rates
similarly to bonds with maturities between five and 10 years.
FIDELITY SHORT-TERM BOND PORTFOLIO
FIDELITY INVESTMENT GRADE BOND FUND
FUNDS OF FIDELITY FIXED INCOME TRUST
SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION
DATED JUNE 24, 1995
ON FEBRUARY 20, 1996, FIDELITY SHORT-TERM BOND PORTFOLIO'S NAME CHANGED
TO FIDELITY SHORT-TERM BOND FUND.
MANAGEMENT CONTRACT. Effective January 1, 1996, 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.
The following information replaces the "Group Fee Rate" and "Effective
Annual Fee Rate" schedules found on page 22.
GROUP FEE RATE SCHEDULE EFFECTIVE ANNUAL FEE RATES
Average Group Annualized Group Net Effective Annual Fee
Assets Rate Assets Rate
0 - $ 3 billion .3700% $ 0.5 billion .5200%
3 - 6 .3400 25 .4238
6 - 9 .3100 50 .3823
9 - 12 .2800 75 .3626
12 - 15 .2500 100 .3512
15 - 18 .2200 125 .3430
18 - 21 .2000 150 .3371
21 - 24 .1900 175 .3325
24 - 30 .1800 200 .3284
30 - 36 .1750 225 .3249
36 - 42 .1700 250 .3219
42 - 48 .1650 275 .3190
48 - 66 .1600 300 .3163
66 - 84 .1550 325 .3137
84 - 120 .1500 350 .3113
120 - 156 .1450 375 .3090
156 - 192 .1400 400 .3067
192 - 228 .1350 425 .1443
228 - 264 .1300 450 .1427
264 - 300 .1275 475 .1413
300 - 336 .1250 500 .1399
336 - 372 .1225 525 .1385
372 - 408 .1200 550 .1372
408 - 444 .1175
444 - 480 .1150
480 - 516 .1125
Over 516 .1100
