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Previous: FIDELITY ADVISOR SERIES IV, NSAR-A, 1995-07-28 |
Next: MARQUEST MEDICAL PRODUCTS INC, DEF 14A, 1995-07-28 |
FIDELITY REAL ESTATE HIGH INCOME FUND
SUPPLEMENT TO THE PROSPECTUS DATED DECEMBER 30, 1994
FINANCIAL HIGHLIGHTS: The following information supplements the
information set forth in the Prospectus. The table reports selected data
for
a share outstanding throughout the period January 5, 1995
(commencement of operations) to May 31, 1995:
FIDELITY REAL ESTATE HIGH INCOME FUND
SUPPLEMENT TO THE PROSPECTUS DATED DECEMBER 30, 1994
FINANCIAL HIGHLIGHTS: The following information supplements the
information set forth in the Prospectus. The table reports selected data
for
a share outstanding throughout the period January 5, 1995
(commencement of operations) to May 31, 1995:
REHI-STK-0795-01 July 21, 1995
REHI-STK-0795-01 July 21, 1995
FINANCIAL HIGHLIGHTS
<TABLE>
<CAPTION>
<S> <C>
JANUARY 5, 1995
(COMMENCEMENT
OF
OPERATIONS) TO
MAY 31, 1995
(UNAUDITED)
SELECTED PER-SHARE DATA
Net asset value, beginning of period $ 10.000
Income from Investment Operations
.329
Net investment income
Net realized and unrealized gain (loss) .793
Total from investment operations 1.122
Less Distributions
(.332)
From net investment income
Net asset value, end of period $ 10.790
TOTAL RETURN B 11.36%
RATIOS AND SUPPLEMENTAL DATA
Net assets, end of period (000 omitted) $ 52,771
Ratio of expenses to average net assets 1.12% A
Ratio of net investment income to average net assets 8.55% A
Portfolio turnover rate 42% A
A ANNUALIZED
B TOTAL RETURNS FOR PERIODS OF LESS THAN ONE YEAR ARE NOT ANNUALIZED.
</TABLE>
FINANCIAL HIGHLIGHTS
<TABLE>
<CAPTION>
<S> <C>
JANUARY 5, 1995
(COMMENCEMENT
OF
OPERATIONS) TO
MAY 31, 1995
(UNAUDITED)
SELECTED PER-SHARE DATA
Net asset value, beginning of period $ 10.000
Income from Investment Operations
.329
Net investment income
Net realized and unrealized gain (loss) .793
Total from investment operations 1.122
Less Distributions
(.332)
From net investment income
Net asset value, end of period $ 10.790
TOTAL RETURN B 11.36%
RATIOS AND SUPPLEMENTAL DATA
Net assets, end of period (000 omitted) $ 52,771
Ratio of expenses to average net assets 1.12% A
Ratio of net investment income to average net assets 8.55% A
Portfolio turnover rate 42% A
A ANNUALIZED
B TOTAL RETURNS FOR PERIODS OF LESS THAN ONE YEAR ARE NOT ANNUALIZED.
</TABLE>
FIDELITY REAL ESTATE HIGH INCOME FUND
A FUND OF FIDELITY ADVISOR SERIES IV
SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION
DATED DECEMBER 30, 1994
The unaudited Financial Statements and Financial Highlights included in the
fund's Semi-Annual Report for the period January 5, 1995 (commencement of
operations) to May 31, 1995 are incorporated herein by reference.
Effective July 1, 1995, Kenneth A. Rathgeber became Treasurer of the
Fidelity funds. The following information replaces the biography of Gary L.
French on page 17:
KENNETH A. RATHGEBER (48), Treasurer (1995), is Treasurer of the Fidelity
funds and is an employee of FMR (1995). Before joining FMR, Mr. Rathgeber
was a Vice President of Goldman Sachs & Co. (1978-1995), where he served in
various positions, including Vice President of Proprietary Accounting
(1988-1992), Global Co-Controller (1992-1994), and Chief Operations Officer
of Goldman Sachs (Asia) LLC (1994-1995).
The following table sets forth information describing the compensation of
each current Trustee of the fund for his or her services as trustee for the
fiscal year ended November 30, 1995.
COMPENSATION TABLE
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C>
Trustees Aggregate Pension or Estimated Annual Total
Compensation Retirement Benefits Upon Compensation
from Benefits Accrued Retirement from from the Fund
the Fund(dagger) as Part of Fund the Fund Complex*
Expenses from the Complex*
Fund Complex*
J. Gary Burkhead ** $ 0 $ 0 $ 0 $ 0
Ralph F. Cox 10.00 5,200 52,000 125,000
Phyllis Burke Davis 10.00 5,200 52,000 122,000
Richard J. Flynn 12.00 0 52,000 154,500
Edward C. Johnson 3d ** 0 0 0 0
E. Bradley Jones 10.00 5,200 49,400 123,50 0
Donald J. Kirk 10.00 5,200 52,000 125,00 0
Peter S. Lynch ** 0 0 0 0
Gerald C. McDonough 10.00 5,200 52,000 125,00 0
Edward H. Malone 10.00 5,200 44,200 128,00 0
Marvin L. Mann 10.00 5,200 52,000 125,00 0
Thomas R. Williams 10.00 5,200 52,000 126,50 0
</TABLE>
* Information is as of December 31, 1994 for 206 funds in the complex.
** Interested trustees of the fund are compensated by FMR.
(dagger) Estimated
Under a retirement program adopted in July 1988, the non-interested
Trustees, upon reaching age 72, become eligible to participate in a
retirement program under which they receive payments during their lifetime
from a fund based on their basic trustee fees and length of service. The
obligation of a fund to make such payments is not secured or funded.
Trustees become eligible if, at the time of retirement, they have served on
the Board for at least five years. Currently, Messrs. Ralph S. Saul,
William R. Spaulding, Bertram H. Witham, and David L. Yunich, all former
non-interested Trustees, receive retirement benefits under the program.
On June 30, 1995, the Trustees and officers of the fund owned, in the
aggregate, less than 1% of the fund's total outstanding shares.
REHI-STKPTB-0795-01 July 21, 1995
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