SUPPLEMENT TO THE FIDELITY ASSET MANAGER FUNDS PROSPECTUS
DATED NOVEMBER 19, 1993
The following replaces similar language found on page 3.
ASSET MANAGER: INCOME
Goal: high level of income, and capital appreciation when appropriate.
NEUTRAL MIX
STOCKS 20%
(can range
from
0-35%)
Row: 1, Col: 1, Value: 50.0
Row: 1, Col: 2, Value: 20.0
Row: 1, Col: 3, Value: 30.0
BONDS 30%
(can range
from
20-45%)
SHORT-TERM
50%
(can range
from
20-80%)
With its emphasis on short-term instruments, Asset Manager: Income is the
most conservative fund in the family.
The following replaces similar language found on page 26.
ASSET MANAGER: INCOME
Normal Approximate
Range Neutral Mix
STOCK CLASS 0-35% 20%
BOND CLASS 20-45% 30%
SHORT-TERM CLASS 20-80% 50%
FFM-94-3 (Page 1 of 3) August 1, 1994
SUPPLEMENT TO THE FIDELITY ASSET MANAGER FUNDS PROSPECTUS
DATED NOVEMBER 19, 1993
The following replaces similar language found on page 3.
ASSET MANAGER: INCOME
Goal: high level of income, and capital appreciation when appropriate.
NEUTRAL MIX
STOCKS 20%
(can range
from
0-35%)
Row: 1, Col: 1, Value: 50.0
Row: 1, Col: 2, Value: 20.0
Row: 1, Col: 3, Value: 30.0
BONDS 30%
(can range
from
20-45%)
SHORT-TERM
50%
(can range
from
20-80%)
With its emphasis on short-term instruments, Asset Manager: Income is the
most conservative fund in the family.
The following replaces similar language found on page 26.
ASSET MANAGER: INCOME
Normal Approximate
Range Neutral Mix
STOCK CLASS 0-35% 20%
BOND CLASS 20-45% 30%
SHORT-TERM CLASS 20-80% 50%
FFM-94-3 (Page 1 of 3) August 1, 1994
The following replaces similar information found in the "Expenses"
section on page 4.
ASSET MANAGER: INCOME
Management fee (after reimbursement) .37%
12b-1 fee None
Other expenses .48%
Total fund operating expenses .85%
After 1 After 3 After 5 After 10
year years years years
Asset Manager:
Income $9 $27 $47 $105
Asset Manager $11 $35 $60 $133
Asset Manager:
Growth $12 $38 $66 $145
FMR has voluntarily agreed to temporarily limit Fidelity Asset Manager:
Income's and Fidelity Asset Manager: Growth's operating expenses to .85%
and 1.20%, respectively, of their average net assets. If these agreements
were not in effect, the management fee, other expenses, and total operating
expenses would be .44%, .68%, and 1.12%, for Asset Manager: Income and
.73%, .56%, and 1.29%, for Asset Manager: Growth, respectively. Expenses
eligible for reimbursement do not include interest, taxes, brokerage
commissions, or extraordinary expenses.
The following information replaces the last two sentences in the "Minimum
Investments" table on page 12.
For Asset Manager, these minimums may vary for a Fidelity Investor Card
account, a Fidelity College Savings Plan account, or a Fidelity Payroll
Deduction Program account in the fund. For Asset Manager: Growth and Asset
Manager: Income, these minimums may vary for a Fidelity Payroll Deduction
Program account. Refer to the appropriate program materials for details.
FFM-94-3 (Page 2 of 3) August 1, 1994
The following replaces similar information found in the "Expenses"
section on page 4.
ASSET MANAGER: INCOME
Management fee (after reimbursement) .37%
12b-1 fee None
Other expenses .48%
Total fund operating expenses .85%
After 1 After 3 After 5 After 10
year years years years
Asset Manager:
Income $9 $27 $47 $105
Asset Manager $11 $35 $60 $133
Asset Manager:
Growth $12 $38 $66 $145
FMR has voluntarily agreed to temporarily limit Fidelity Asset Manager:
Income's and Fidelity Asset Manager: Growth's operating expenses to .85%
and 1.20%, respectively, of their average net assets. If these agreements
were not in effect, the management fee, other expenses, and total operating
expenses would be .44%, .68%, and 1.12%, for Asset Manager: Income and
.73%, .56%, and 1.29%, for Asset Manager: Growth, respectively. Expenses
eligible for reimbursement do not include interest, taxes, brokerage
commissions, or extraordinary expenses.
The following information replaces the last two sentences in the "Minimum
Investments" table on page 12.
For Asset Manager, these minimums may vary for a Fidelity Investor Card
account, a Fidelity College Savings Plan account, or a Fidelity Payroll
Deduction Program account in the fund. For Asset Manager: Growth and Asset
Manager: Income, these minimums may vary for a Fidelity Payroll Deduction
Program account. Refer to the appropriate program materials for details.
FFM-94-3 (Page 2 of 3) August 1, 1994
The following information replaces that found in the last paragraph of the
section entitled "Debt Securities" beginning on page 27:
RESTRICTIONS: Asset Manager: Income may only invest in corporate debt
securities if they are rated at least Baa by Moody's, BBB by S&P, or,
if unrated, of equivalent quality in FMR's judgement except that it may
invest up to 5% of its assets in lower-quality convertible bonds. Asset
Manager: Growth does not currently intend to invest more than 35% of its
assets in lower-quality debt securities. Asset Manager may not invest more
than 35% of its assets in lower-quality debt securities, however the fund
does not currently intend to invest more than 20% of its total assets in
securities judged by FMR to be below investment-grade quality.
FFM-94-3 (Page 3 of 3) August 1, 1994
The following information replaces that found in the last paragraph of the
section entitled "Debt Securities" beginning on page 27:
RESTRICTIONS: Asset Manager: Income may only invest in corporate debt
securities if they are rated at least Baa by Moody's, BBB by S&P, or,
if unrated, of equivalent quality in FMR's judgement except that it may
invest up to 5% of its assets in lower-quality convertible bonds. Asset
Manager: Growth does not currently intend to invest more than 35% of its
assets in lower-quality debt securities. Asset Manager may not invest more
than 35% of its assets in lower-quality debt securities, however the fund
does not currently intend to invest more than 20% of its total assets in
securities judged by FMR to be below investment-grade quality.
FFM-94-3 (Page 3 of 3) August 1, 1994
