SUPPLEMENT TO THE
FIDELITY GINNIE MAE
PORTFOLIO AND FIDELITY
MORTGAGE SECURITIES
PORTFOLIO
PROSPECTUS
DATED SEPTEMBER 19, 1994
The following information
replaces the similar information
found in the Charter section
beginning on page 10.
Kevin Grant is manager of
Ginnie Mae and Mortgage
Securities, which he has
managed since February 1995
and August 1993, respectively.
He also manages Spartan
Ginnie Mae. He is a former vice
president and chief strategist
for mortgage-backed securities
at Morgan Stanley. Previously,
Mr. Grant served as an
investment director at Aetna
Bond Investors. Mr. Grant
joined Fidelity in 1993.
The following information
replaces the similar information
found in the Expenses section
beginning on page 5.
SHAREHOLDER TRANSACTION
EXPENSES are charges you pay
when you buy, sell, or hold
shares of a fund. See page 29
for more information about
these fees.
Maximum sales charge on
purchases and
reinvested distributions None
Deferred sales charge on
redemptions None
Exchange fee None
Annual account maintenance fee $
12.00
(for accounts under $2,500)
The following paragraph
supplements the information
found in the section entitled
Transaction Details beginning
on page 27.
FIDELITY RESERVES THE RIGHT TO
DEDUCT AN ANNUAL
MAINTENANCE FEE of $12.00
from accounts with a value of
less than $2,500, subject to an
annual maximum charge of
$60.00 per shareholder. It is
expected that accounts will be
valued on the second Friday in
November of each year.
Accounts opened after
September 30 will not be
subject to the fee for that year.
The fee, which is payable to
the transfer agent, is designed
to offset in part the relatively
higher costs of servicing
smaller accounts. The fee will
not be deducted from
retirement accounts, accounts
using regular investment plans,
or if total assets in Fidelity
funds exceed $50,000.
Eligibility for the $50,000 waiver
is determined by aggregating
Fidelity mutual fund accounts
maintained by FSC or FBSI
which are registered under the
same social security number or
which list the same social
security number for the
custodian of a Uniform
Gifts/Transfers to Minors Act
account.
SUPPLEMENT TO THE
FIDELITY GINNIE MAE
PORTFOLIO AND FIDELITY
MORTGAGE SECURITIES
PORTFOLIO
PROSPECTUS
DATED SEPTEMBER 19, 1994
The following information
replaces the similar information
found in the Charter section
beginning on page 10.
Kevin Grant is manager of
Ginnie Mae and Mortgage
Securities, which he has
managed since February 1995
and August 1993, respectively.
He also manages Spartan
Ginnie Mae. He is a former vice
president and chief strategist
for mortgage-backed securities
at Morgan Stanley. Previously,
Mr. Grant served as an
investment director at Aetna
Bond Investors. Mr. Grant
joined Fidelity in 1993.
The following information
replaces the similar information
found in the Expenses section
beginning on page 5.
SHAREHOLDER TRANSACTION
EXPENSES are charges you pay
when you buy, sell, or hold
shares of a fund. See page 29
for more information about
these fees.
Maximum sales charge on
purchases and
reinvested distributions None
Deferred sales charge on
redemptions None
Exchange fee None
Annual account maintenance fee $
12.00
(for accounts under $2,500)
The following paragraph
supplements the information
found in the section entitled
Transaction Details beginning
on page 27.
FIDELITY RESERVES THE RIGHT TO
DEDUCT AN ANNUAL
MAINTENANCE FEE of $12.00
from accounts with a value of
less than $2,500, subject to an
annual maximum charge of
$60.00 per shareholder. It is
expected that accounts will be
valued on the second Friday in
November of each year.
Accounts opened after
September 30 will not be
subject to the fee for that year.
The fee, which is payable to
the transfer agent, is designed
to offset in part the relatively
higher costs of servicing
smaller accounts. The fee will
not be deducted from
retirement accounts, accounts
using regular investment plans,
or if total assets in Fidelity
funds exceed $50,000.
Eligibility for the $50,000 waiver
is determined by aggregating
Fidelity mutual fund accounts
maintained by FSC or FBSI
which are registered under the
same social security number or
which list the same social
security number for the
custodian of a Uniform
Gifts/Transfers to Minors Act
account.
MOG/MOR-95-1 February 13, 1995
MOG/MOR-95-1 February 13, 1995
