SUPPLEMENT TO THE
SPARTAN GINNIE MAE
FUND
PROSPECTUS
DATED OCTOBER 20, 1994
The following information
replaces the second
paragraph found under the
"FMR and its Affiliates"
section on page 8.
KEVIN GRANT is manager of
Spartan Ginnie Mae, which
he has managed since
February 1995. He also
manages Ginnie Mae and
Mortgage Securities. He is a
former vice president and
chief strategist for
mortgage-backed securities
at Morgan Stanley.
Previously, Mr. Grant served
as an investment director at
Aetna Bond Investors. Mr.
Grant joined Fidelity in 1993.
The following information
replaces the similar
information found in the
Expenses section beginning
on page 4.
EXPENSES
SHAREHOLDER TRANSACTION
EXPENSES are charges you
pay when you buy, sell, or
hold shares of a fund. See
page 23 for more information
about these fees.
Maximum sales charge on
purchases and
reinvested distributions None
Deferred sales charge on
redemptions None
Exchange and wire transaction
fees $5.00
Checkwriting fee, per check
written $2.00
Account closeout fee $5.00
Annual account maintenance fee
$12.00
(for accounts under $2,500)
The following paragraph,
effective January 23, 1995,
supplements the information
found in the section entitled
Transaction Details beginning
on page 23.
FIDELITY RESERVES THE RIGHT
TO DEDUCT AN ANNUAL
MAINTENANCE FEE of $12.00
from accounts with a value of
less than $2,500, subject to
an annual maximum charge
of $60.00 per shareholder. It
is expected that accounts will
be valued on the second
Friday in November of each
year. Accounts opened after
September 30 will not be
subject to the fee for that
year. The fee, which is
payable to the transfer agent,
is designed to offset in part
the relatively higher costs of
servicing smaller accounts.
The fee will not be deducted
from retirement accounts,
accounts using regular
investment plans, or if total
assets in Fidelity funds
exceed $50,000. Eligibility for
the $50,000 waiver is
determined by aggregating
Fidelity mutual fund accounts
maintained by FSC or FBSI
which are registered under
the same social security
number or which list the
same social security number
for the custodian of a
Uniform Gifts/Transfers to
Minors Act account.
SUPPLEMENT TO THE
SPARTAN GINNIE MAE
FUND
PROSPECTUS
DATED OCTOBER 20, 1994
The following information
replaces the second
paragraph found under the
"FMR and its Affiliates"
section on page 8.
KEVIN GRANT is manager of
Spartan Ginnie Mae, which
he has managed since
February 1995. He also
manages Ginnie Mae and
Mortgage Securities. He is a
former vice president and
chief strategist for
mortgage-backed securities
at Morgan Stanley.
Previously, Mr. Grant served
as an investment director at
Aetna Bond Investors. Mr.
Grant joined Fidelity in 1993.
The following information
replaces the similar
information found in the
Expenses section beginning
on page 4.
EXPENSES
SHAREHOLDER TRANSACTION
EXPENSES are charges you
pay when you buy, sell, or
hold shares of a fund. See
page 23 for more information
about these fees.
Maximum sales charge on
purchases and
reinvested distributions None
Deferred sales charge on
redemptions None
Exchange and wire transaction
fees $5.00
Checkwriting fee, per check
written $2.00
Account closeout fee $5.00
Annual account maintenance fee
$12.00
(for accounts under $2,500)
The following paragraph,
effective January 23, 1995,
supplements the information
found in the section entitled
Transaction Details beginning
on page 23.
FIDELITY RESERVES THE RIGHT
TO DEDUCT AN ANNUAL
MAINTENANCE FEE of $12.00
from accounts with a value of
less than $2,500, subject to
an annual maximum charge
of $60.00 per shareholder. It
is expected that accounts will
be valued on the second
Friday in November of each
year. Accounts opened after
September 30 will not be
subject to the fee for that
year. The fee, which is
payable to the transfer agent,
is designed to offset in part
the relatively higher costs of
servicing smaller accounts.
The fee will not be deducted
from retirement accounts,
accounts using regular
investment plans, or if total
assets in Fidelity funds
exceed $50,000. Eligibility for
the $50,000 waiver is
determined by aggregating
Fidelity mutual fund accounts
maintained by FSC or FBSI
which are registered under
the same social security
number or which list the
same social security number
for the custodian of a
Uniform Gifts/Transfers to
Minors Act account.
SGM-95-1 February 13, 1995
SGM-95-1 February 13, 1995
