FIDELITY FIFTY
SUPPLEMENT TO THE PROSPECTUS DATED AUGUST 31, 1993
FINANCIAL HIGHLIGHTS. The following information supplements the
information set forth in the Prospectus. The table reports selected data
for a share outstanding throughout the period September 17, 1993
(commencement of operations) to December 31, 1993:
<TABLE>
<CAPTION>
<S> <C>
SEPTEMBER 17,
1993
(COMMENCEMENT
OF OPERATIONS) TO
DECEMBER 31, 1993
(UNAUDITED)
SELECTED PER-SHARE DATA
Net asset value, beginning of period $ 10.00
Income from Investment Operations
Net investment income .01
Net realized and unrealized gain (loss) on investments .73
Total from investment operations .74
Net asset value, end of period $ 10.74
TOTAL RETURN (dagger)(double dagger) 7.40%
RATIOS AND SUPPLEMENTAL DATA
Net assets, end of period (000 omitted) $ 651,007
Ratio of expenses to average net assets ** 1.40%*
Ratio of expenses to average net assets before expense reductions ** 1.41%*
Ratio of net investment income to average net assets .19%*
Portfolio turnover rate 161%*
</TABLE>
* ANNUALIZED
** SEE NOTE 5 OF NOTES TO FINANCIAL STATEMENTS.
(dagger) THE TOTAL RETURN DOES NOT INCLUDE THE ONE TIME SALES CHARGE AND
FOR PERIODS OF LESS THAN ONE YEAR ARE NOT ANNUALIZED.
(double dagger) THE TOTAL RETURN WOULD HAVE BEEN LOWER HAD THE ADVISER NOT
REDUCED CERTAIN EXPENSES DURING THEPERIOD SHOWN.
The following information replaces the fifth paragraph under the heading
"Share Price" on page 9.
The fund's sales charge may be reduced if you invest directly with Fidelity
or through prototype or prototype-like retirement plans sponsored by FMR or
FMR Corp. Purchases made with assistance or intervention from a financial
intermediary are not eligible. The amount you invest, plus the value of
your account, must fall within the ranges shown below. Call Fidelity to see
if your purchase qualifies.
Ranges Sales charge Net amount invested
$0 - 249,999 3% 3.09%
$250,000 - 499,999 2% 2.04%
$500,000 - 999,999 1% 1.01%
$1,000,000 or more none none
FIF-94-2 (page 1 of 3) June 1, 1994
FIDELITY FIFTY
SUPPLEMENT TO THE PROSPECTUS DATED AUGUST 31, 1993
FINANCIAL HIGHLIGHTS. The following information supplements the
information set forth in the Prospectus. The table reports selected data
for a share outstanding throughout the period September 17, 1993
(commencement of operations) to December 31, 1993:
<TABLE>
<CAPTION>
<S> <C>
SEPTEMBER 17,
1993
(COMMENCEMENT
OF OPERATIONS) TO
DECEMBER 31, 1993
(UNAUDITED)
SELECTED PER-SHARE DATA
Net asset value, beginning of period $ 10.00
Income from Investment Operations
Net investment income .01
Net realized and unrealized gain (loss) on investments .73
Total from investment operations .74
Net asset value, end of period $ 10.74
TOTAL RETURN (dagger)(double dagger) 7.40%
RATIOS AND SUPPLEMENTAL DATA
Net assets, end of period (000 omitted) $ 651,007
Ratio of expenses to average net assets ** 1.40%*
Ratio of expenses to average net assets before expense reductions ** 1.41%*
Ratio of net investment income to average net assets .19%*
Portfolio turnover rate 161%*
</TABLE>
* ANNUALIZED
** SEE NOTE 5 OF NOTES TO FINANCIAL STATEMENTS.
(dagger) THE TOTAL RETURN DOES NOT INCLUDE THE ONE TIME SALES CHARGE AND
FOR PERIODS OF LESS THAN ONE YEAR ARE NOT ANNUALIZED.
(double dagger) THE TOTAL RETURN WOULD HAVE BEEN LOWER HAD THE ADVISER NOT
REDUCED CERTAIN EXPENSES DURING THEPERIOD SHOWN.
The following information replaces the fifth paragraph under the heading
"Share Price" on page 9.
The fund's sales charge may be reduced if you invest directly with Fidelity
or through prototype or prototype-like retirement plans sponsored by FMR or
FMR Corp. Purchases made with assistance or intervention from a financial
intermediary are not eligible. The amount you invest, plus the value of
your account, must fall within the ranges shown below. Call Fidelity to see
if your purchase qualifies.
Ranges Sales charge Net amount invested
$0 - 249,999 3% 3.09%
$250,000 - 499,999 2% 2.04%
$500,000 - 999,999 1% 1.01%
$1,000,000 or more none none
FIF-94-2 (page 1 of 3) June 1, 1994
The sales charge will also be reduced by the percentage of any sales charge
you previously paid on investments in other Fidelity funds (not including
Fidelity's Foreign Currency Funds). Similarly, your shares carry credit for
any sales charge you would have paid if the reductions in the table above
had not been available. These sales charge credits only apply if you
continuously owned Fidelity fund shares or a Fidelity brokerage core
account, or participated in The CORPORATEplan for Retirement Program, and
only to purchases made in one of the following ways: (i) by exchange from
another Fidelity fund; (ii) with proceeds of a transaction within a
Fidelity brokerage core account, including any free credit balance, core
money market fund, or margin availability, to the extent such proceeds were
derived from redemption proceeds from another Fidelity fund; (iii) with
redemption proceeds from one of Fidelity's Foreign Currency Funds, if the
Foreign Currency Fund shares were originally purchased with redemption
proceeds from a Fidelity fund; (iv) through the Directed Dividends Option
(see page 13); or (v) by participants in The CORPORATEplan for Retirement
Program when shares are purchased through plan-qualified loan repayments,
and for exchanges into and out of the Managed Income Portfolio.
The following language replaces similar language found in item numbers (7)
and (10) on page 10.
(7) 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 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; ... (10) 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 provisions. Except for
correspondents of National Financial Services Corporation, this waiver is
available only for shares purchased directly from Fidelity, and is
unavailable if the RIA is part of an organization principally engaged in
the brokerage business.
The following language supplements that found in the sixth paragraph under
the heading "Share Price" found on page 9.
The fund's sales charge will not apply... (12) if you invest through a
non-prototype pension or profit-sharing plan that maintains all of its
mutual fund assets in Fidelity mutual funds, provided the plan executes a
Fidelity non-prototype sales charge waiver request form confirming its
qualification.
(page 2 of 3)
The sales charge will also be reduced by the percentage of any sales charge
you previously paid on investments in other Fidelity funds (not including
Fidelity's Foreign Currency Funds). Similarly, your shares carry credit for
any sales charge you would have paid if the reductions in the table above
had not been available. These sales charge credits only apply if you
continuously owned Fidelity fund shares or a Fidelity brokerage core
account, or participated in The CORPORATEplan for Retirement Program, and
only to purchases made in one of the following ways: (i) by exchange from
another Fidelity fund; (ii) with proceeds of a transaction within a
Fidelity brokerage core account, including any free credit balance, core
money market fund, or margin availability, to the extent such proceeds were
derived from redemption proceeds from another Fidelity fund; (iii) with
redemption proceeds from one of Fidelity's Foreign Currency Funds, if the
Foreign Currency Fund shares were originally purchased with redemption
proceeds from a Fidelity fund; (iv) through the Directed Dividends Option
(see page 13); or (v) by participants in The CORPORATEplan for Retirement
Program when shares are purchased through plan-qualified loan repayments,
and for exchanges into and out of the Managed Income Portfolio.
The following language replaces similar language found in item numbers (7)
and (10) on page 10.
(7) 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 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; ... (10) 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 provisions. Except for
correspondents of National Financial Services Corporation, this waiver is
available only for shares purchased directly from Fidelity, and is
unavailable if the RIA is part of an organization principally engaged in
the brokerage business.
The following language supplements that found in the sixth paragraph under
the heading "Share Price" found on page 9.
The fund's sales charge will not apply... (12) if you invest through a
non-prototype pension or profit-sharing plan that maintains all of its
mutual fund assets in Fidelity mutual funds, provided the plan executes a
Fidelity non-prototype sales charge waiver request form confirming its
qualification.
(page 2 of 3)
The following language replaces that found in the seventh paragraph under
the heading "Share Price" on page 9.
These waivers must be qualified through FDC in advance. More detailed
information about waivers (1), (2), (5), (9), and (10) is contained in the
Statement of Additional Information. A representative of your plan or
organization should call Fidelity for more information.
The following information supplements the eighth paragraph under the
heading "Share Price" beginning on page 10.
Effective February 1, 1994, the sales charge paid to qualified recipients
will be 2.25% of the fund's offering price.
(page 3 of 3)
The following language replaces that found in the seventh paragraph under
the heading "Share Price" on page 9.
These waivers must be qualified through FDC in advance. More detailed
information about waivers (1), (2), (5), (9), and (10) is contained in the
Statement of Additional Information. A representative of your plan or
organization should call Fidelity for more information.
The following information supplements the eighth paragraph under the
heading "Share Price" beginning on page 10.
Effective February 1, 1994, the sales charge paid to qualified recipients
will be 2.25% of the fund's offering price.
(page 3 of 3)
