FIDELITY CHARLES STREET TRUST
497, 1994-08-03
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FIDELITY ASSET MANAGERTM
A FUND OF FIDELITY CHARLES STREET TRUST
SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION
DATED NOVEMBER 19, 1993
   MANAGEMENT CONTRACT.  Effective August 1, 1994, 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 following the meeting that will be held on
September 21, 1994.    
   The following information replaces the "Group Fee Rate" and "Effective
Annual Fee Rate" schedules found on page 19.    
    GROUP FEE RATE SCHEDULE                            EFFECTIVE ANNUAL FEE
RATES    
     Average Group   Annualized   Group Net    Effective Annual Fee   
 Assets               Rate         Assets      Rate                   
 
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             .3249    
 
36 -   42          .340     250             .3219    
 
42 -   48          .335     275             .3190    
 
48 -   66          .325     300             .3163    
 
66 -   84          .320     325             .3137    
 
84 -   102         .315     350             .3113    
 
102 -   138        .310     375             .3090    
 
138 -   174        .305     400             .3067    
 
174 -   210        .300                              
 
210 -   246        .295                              
 
246 -   282        .290                              
 
282 -   318        .285                              
 
318 -   354        .280                              
 
354 -   390        .275                              
 
        Over 390   .270                              
 
The following information supplements that found in the "Performance"
section beginning on page 13.
The fund may be advertised as an investment choice under the Fidelity
College Savings Plan or the Fidelity Investor Card mutual fund option. 
Advertising may contain illustrations of projected future college costs
based on assumed rates of inflation and examples of hypothetical
performance.  Advertising for the Fidelity College Savings Plan mutual fund
option may be used in conjunction with advertising for the Fidelity College
Savings Plan brokerage option, a product offered through Fidelity Brokerage
Services, Inc.  The Fidelity Investor Card is a product offered through
Fidelity Trust Company.
FAAB-94-   2                August     1994



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