SUPPLEMENT TO THE
FIDELITY GROWTH
COMPANY FUND
AND
FIDELITY EMERGING GROWTH FUND
PROSPECTUS
DATED JANUARY 26, 1996
On December 19, 1996, the Board of Trustees of Fidelity Growth Company Fund
authorized elimination of the fund's 3% front-end sales charge effective on
January 1, 1997. Beginning January 1 1997, purchases of shares of the fund
will not be subject to a sales charge.
The following information replaces the similar information found in the
section entitled "FMR and Its Affiliates," beginning on page 11.
Lawrence Greenberg is manager and vice president of Growth Company and
Emerging Growth, which he has managed since June 1996 and October 1993,
respectively. He also manages several other Fidelity funds. Mr. Greenberg
joined Fidelity in 1986.
The following information supplements that found in the "Securities and
Investment Practices" section beginning on page 13.
CASH MANAGEMENT. A fund may invest in money market securities, in a pooled
account of repurchase agreements, and in a money market fund available only
to funds and accounts managed by FMR or its affiliates, whose goal is to
seek a high level of current income while maintaining a stable $1.00 share
price. A major change in interest rates or a default on the money market
fund's investments could cause its share price to change.
The following information replaces similar information found on page 20:
MINIMUM INVESTMENTS
TO OPEN AN ACCOUNT $2,500
For Fidelity IRA, Rollover IRA, SEP-IRA and Keogh accounts $500
TO ADD TO AN ACCOUNT $250
For Fidelity IRA, Rollover IRA, SEP-IRA and Keogh accounts $250
Through regular investment plans* $100
MINIMUM BALANCE $1,000
For Fidelity IRA, Rollover IRA, SEP-IRA and Keogh accounts $500
FOR MORE INFORMATION ABOUT REGULAR INVESTMENT PLANS, PLEASE REFER TO
INVESTOR SERVICES, PAGE 24.
These minimums may vary for investments through Fidelity Portfolio Advisory
Services, and with respect to Growth Company, a Fidelity Payroll Deduction
Program account in the fund. There is no minimum account balance or minimum
initial or subsequent investment for certain retirement accounts funded
through salary reduction, or accounts opened with the proceeds of
distributions from such Fidelity retirement accounts. Refer to the program
materials for details.
The following information replaces the similar information under "Waivers"
in the "Sales Charge Reductions and Waivers" section beginning on page 31.
2. To shares in a Fidelity account purchased with the proceeds of a
distribution from an employee benefit plan, provided that at the time of
the distribution, the employer or its affiliate maintained a plan that both
qualified for waiver (1) above and had at least some of its assets invested
in Fidelity-managed products. (Distributions transferred to an IRA account
must be transferred within 60 days from the date of the distribution. All
other distributions must be transferred directly into a Fidelity account.)
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
Fid elity Internation al Limited or their direct or indirect
subsidiaries (a Fidelity Trustee or employee), the spouse of a Fidelity
Trustee or employee, 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.
SUPPLEMENT TO THE
FIDELITY GROWTH COMPANY FUND
AND
FIDELITY EMERGING GROWTH FUND
STATEMENT OF ADDITIONAL INFORMATION
DATED JANUARY 26, 1996
The following information replaces that found in limitation (vii) on page 3
and limitation (viii) on page 4.
The fund does not currently intend to (a) purchase securities of other
investment companies, except in the open market where no commission except
the ordinary broker's commission is paid, or (b) purchase or retain
securities issued by other open-end investment companies. Limitations (a)
and (b) do not apply (i) to securities received as dividends, through
offers of exchange, or as a result of a reorganization, consolidation or
merger, or (ii) to securities of other open-end investment companies
managed by FMR or a successor or affiliate purchased pursuant to an
exemptive order granted by the SEC.
The following information replaces that found in the "Additional Purchase
and Redemption Information" section beginning on page 17:
The sales charge will not apply:
3. to shares in a Fidelity account purchased (including purchases by
exchange) with the proceeds of a distribution from an employee benefit plan
provided that: (i) at the time of the distribution, the employer, or an
affiliate (as described in exemption 1 above) of such employer, maintained
at least one employee benefit plan that qualified for exemption 1 and that
had at least some portion of its assets invested in one or more mutual
funds advised by FMR, or in one or more accounts or pools advised by
Fidelity Management Trust Company; and (ii) either (a) the distribution is
transferred from the plan to a Fidelity IRA account within 60 days from the
date of the distribution, or (b) the distribution is transferred directly
from the plan into another Fidelity account;
8. to shares purchased by 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 F IL or t heir direct or indirect
subsidiaries (a Fidelity Trustee or employee), the spouse of a Fidelity
Trustee or employee, 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;
11. to shares purchased by contributions and exchanges to the following
prototype or prototype-like retirement plans sponsored by FMR Corp. or FMR
and that are marketed and distributed directly to plan sponsors or
participants without any intervention or assistance from any intermediary
distribution channel: The Fidelity IRA, the Fidelity Rollover IRA, The
Fidelity SEP-IRA and SARSEP, The Fidelity SI MPLE IR A, The Fidelity
Retirement Plan, Fidelity Defined Benefit Plan, The Fidelity Group IRA, The
Fidelity 403(b) Program, The Fidelity Investments 401(a) Prototype Plan for
Tax-Exempt Employers, and The CORPORATEplan for Retirement (Profit Sharing
and Money Purchase Plan);
