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 24.
ASSET MANAGER: INCOME
The expected range and approximate neutral mix for each asset class are
shown below.
Normal Approximate
Range Neutral Mix
STOCK CLASS 0-35% 20%
BOND CLASS 20-45% 30%
SHORT-TERM CLASS 20-80% 50%
FFM-94-1 January 3,
1993
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 24.
ASSET MANAGER: INCOME
The expected range and approximate neutral mix for each asset class are
shown below.
Normal Approximate
Range Neutral Mix
STOCK CLASS 0-35% 20%
BOND CLASS 20-45% 30%
SHORT-TERM CLASS 20-80% 50%
FFM-94-1 January 3,
1993
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 judgment, 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-94-1 January 3,
199 3
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 judgment, 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-94-1 January 3,
1993
