FIDELITY FIFTY
SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION
DATED AUGUST 31, 1993
ADDITIONAL PURCHASE AND REDEMPTION INFORMATION. The fund's sales charge
may be reduced to reflect sales charges previously paid, or that would have
been paid absent a reduction as noted in the prospectus, in connection with
investments in other Fidelity funds. This includes reductions for
investments in prototype or prototype-like retirement plans sponsored by
FMR or FMR Corp., which are listed beginning on page 12.
MANAGEMENT CONTRACT. Effective November 1, 1993, 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.
GROUP FEE RATE SCHEDULE EFFECTIVE ANNUAL FEE RATES
Average Group Annualized Group Net Effective Annual Fee Rate
Assets Rate Assets
0 - $ 3 billion .520% $ 0.5 billion .5200%
3 - 6 .490 25 .4238
6 - 9 .460 50 .3823
9 - 12 .430 75 .3626
12 - 15 .400 100 .3512
15 - 18 .385 125 .3430
18 - 21 .370 150 .3371
21 - 24 .360 175 .3325
24 - 30 .350 200 .3284
30 - 36 .345 225 .3253
36 - 42 .340 250 .3223
42 - 48 .335 275 .3198
48 - 66 .325 300 .3175
66 - 84 .320 325 .3153
84 - 102 .315 350 .3133
102 - 138 .310
138 - 174 .305
174 - 228 .300
228 - 282 .295
282 - 336 .290
Over 336 .285
The following language replaces that found in item number (8) in the
second paragraph in the section entitled "Additional Purchase and
Redemption Information" beginning on page 12.
(8) if you are a current or former Trustee or officer of a Fidelity fund
or a current or retired officer, director, or regular employee of FMR
Corp. or its direct or indirect subsidiaries (a Fidelity Trustee or
employee), the spouse of a Fidelity Trustee or employee, a Fidelity Trustee
or employee acting as custodian for a minor child, or a person acting as
trustee of a trust for the sole benefit of the minor child of a Fidelity
Trustee or employee;
The following language supplements that found in the second paragraph in
the section entitled "Additional Purchase and Redemption Information"
beginning on page 12.
(11) if you are a registered investment adviser (RIA) purchasing for
your discretionary accounts, provided you execute a Fidelity RIA load
waiver agreement which specifies certain aggregate minimum and operating
pro
visions. This waiver is available only for shares purchased directly from
Fidelity, without a broker, and is unavailable if the RIA is part of an
organization principally engaged in the brokerage business; or (12) if you
are a trust institution or bank trust department purchasing for your
non-discretionary, non-retirement fiduciary accounts, provided you execute
a Fidelity Trust load waiver agreement which specifies certain aggregate
minimum and operating provisions. This waiver is available only for shares
purchased either directly from Fidelity or through a bank-affiliated
broker, and is unavailable if the trust department or institution is part
of an organization not principally engaged in banking or trust
activities.
FIFB-94-1
(continued)
May 5, 1994
