SUPPLEMENT TO THE SPARTAN(registered trademark) SHORT-TERM BOND FUND
AND
SPARTAN(registered trademark) INVESTMENT GRADE BOND FUND NOVEMBER 28,
1997 PROSPECTUS
The following information supplements that found under the "Investment
Principles and Risks" section beginning on page 13 .
In managing bond funds, FMR selects a benchmark index which is
representative of the portion of the bond market in which a fund
invests. FMR uses this benchmark index as a guide in structuring the
fund and selecting its investments. The benchmark index for Spartan
Short-Term Bond is the Lehman Brothers 1-3 Year Government/Corporate
Bond Index, a market value weighted benchmark of investment-grade
fixed-rate debt issues with maturities between one and three years.
The benchmark index for Spartan Investment Grade is the Lehman
Brothers Aggregate Bond Index, a market value weighted benchmark of
investment-grade fixed-rate debt issues with maturities of at least
one year. FMR manages each fund to have similar overall interest rate
risk to its respective Index.
