F U N D P R O F I L E
Fidelity
GINNIE MAE
FUND
EDGAR Submission type 497k1
Filed pursuant to Rule 497(K)(1)(i)
FIDELITY GINNIE MAE FUND
This profile summarizes key information about the fund that is
included in the fund's prospectus. The fund's prospectus includes
additional information about the fund, including a more detailed
description of the risks associated with investing in the fund that
you may want to consider before you invest. You may obtain the
prospectus and other information about the fund at no cost by calling
Fidelity(registered trademark) at 1-800-544-8888 or visiting
Fidelity's Web site at www.fidelity.com.
(fidelity_logo_graphic)(registered)
82 Devonshire Street, Boston, MA 02109
Insert item Code number MOG-profile-0999
Investment Summary
INVESTMENT OBJECTIVE
GINNIE MAE FUND seeks a high level of current income consistent with
prudent investment risk. In seeking current income, the fund may also
consider the potential for capital gain.
PRINCIPAL INVESTMENT STRATEGIES
Fidelity Management & Research Company (FMR)'s principal investment
strategies include:
(small solid bullet) Normally investing at least 65% of total assets
in Ginnie Maes.
(small solid bullet) Investing in other U.S. Government securities and
instruments related to U.S. Government securities.
(small solid bullet) Managing the fund to have similar overall
interest rate risk to the Lehman Brothers GNMA Index.
(small solid bullet) Allocating assets across different market sectors
and maturities.
(small solid bullet) Analyzing a security's structural features,
current pricing and trading opportunities, and the credit quality of
its issuer to select investments.
PRINCIPAL INVESTMENT RISKS
The fund is subject to the following principal investment risks:
(small solid bullet) INTEREST RATE CHANGES. Interest rate increases
can cause the price of a debt security to decrease.
(small solid bullet) PREPAYMENT. The ability of an issuer of a debt
security to repay principal prior to a security's maturity can cause
greater price volatility if interest rates change.
(small solid bullet) ISSUER-SPECIFIC CHANGES. The value of an
individual security or particular type of security can be more
volatile than the market as a whole and can perform differently than
the value of the market as a whole.
An investment in the fund is not a deposit of a bank and is not
insured or guaranteed by the Federal Deposit Insurance Corporation or
any other government agency.
When you sell your shares of the fund, they could be worth more or
less than what you paid for them.
Additional information about the fund's investments is available in
the fund's annual and semi-annual reports to shareholders. In the
fund's annual and semi-annual reports, you will find a discussion of
the market conditions and investment strategies that significantly
affected the fund's performance during the period covered by the
report. You may obtain a free copy of the fund's annual or semi-annual
report by calling 1-800-544-8888.
Performance
The following information illustrates the changes in Ginnie Mae's
performance from year to year and compares the fund's performance to
the performance of a market index and an average of the performance of
similar funds over various periods of time. Returns are based on past
results and are not an indication of future performance.
YEAR-BY-YEAR RETURNS
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
GINNIE MAE
Calendar Years 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999
% % % % % % % % % %
</TABLE>
Percentage (%)
Row: 1, Col: 1, Value: nil
Row: 2, Col: 1, Value: nil
Row: 3, Col: 1, Value: nil
Row: 4, Col: 1, Value: nil
Row: 5, Col: 1, Value: nil
Row: 6, Col: 1, Value: nil
Row: 7, Col: 1, Value: nil
Row: 8, Col: 1, Value: nil
Row: 9, Col: 1, Value: nil
Row: 10, Col: 1, Value: nil
DURING THE PERIODS SHOWN IN THE CHART FOR GINNIE MAE, THE HIGHEST
RETURN FOR A QUARTER WAS __% (QUARTER ENDING [CALENDAR QUARTER:
[MONTH][DATE]], [YEAR]) AND THE LOWEST RETURN FOR A QUARTER WAS __%
(QUARTER ENDING [CALENDAR QUARTER: [MONTH][DATE]], [YEAR]).
AVERAGE ANNUAL RETURNS
For the periods ended June Past 1 year Past 5 years Past 10 years
30, 1999
Ginnie Mae % % %
Lehman Brothers GNMA Index % % %
Lipper GNMA Funds Average % % %
If FMR had not reimbursed certain fund expenses during these periods,
the fund's returns would have been lower.
The Lehman Brothers GNMA Index is a market value-weighted index of
fixed-rate securities that represent interests in pools of mortgage
loans with original terms of 15 and 30 years and are issued by the
Government National Mortgage Association (GNMA).
The Lipper GNMA Funds Average reflects the performance (excluding
sales charges) of mutual funds with similar objectives.
Fee Table
The following table describes the fees and expenses that are incurred
when you buy, hold or sell shares of the fund. [The annual fund
operating expenses provided below for the fund are based on historical
expenses, adjusted to reflect current fees.][The annual fund operating
expenses provided below for the fund do not reflect the effect of any
expense reimbursements or reduction of certain expenses during the
period.][The annual fund operating expenses provided below for the
fund are based on historical expenses.]
SHAREHOLDER FEES (PAID BY THE INVESTOR DIRECTLY)
Sales charge (load) on None
purchases and reinvested
distributions
Deferred sales charge (load) None
on redemptions
Annual account maintenance $12.00
fee (for accounts under
$2,500)
ANNUAL FUND OPERATING EXPENSES (PAID FROM FUND ASSETS)
Management fee %
Distribution and Service None
(12b-1) fee
Other expenses %
Total annual fund operating %
expenses A
A Effective June 27, 1998, FMR has voluntarily agreed to reimburse
Ginnie Mae to the extent that the management fee, other expenses and
total operating expenses (excluding interest, taxes, brokerage
commissions and extraordinary expenses) as a percentage of its average
net assets, exceed 0.65%. This arrangement can be terminated at any
time.
[A portion of the brokerage commissions that the fund pays is used to
reduce the fund's expenses. In addition, the fund has entered into
arrangements with its custodian and transfer agent whereby credits
realized as a result of uninvested cash balances are used to reduce
custodian and transfer agent expenses. Including [this/these]
reduction[s], the total fund operating expenses , after reimbursement,
would have been __% Ginnie Mae.]
This EXAMPLE helps you compare the cost of investing in the fund with
the cost of investing in other mutual funds.
Let's say, hypothetically, that the fund's annual return is 5% and
that your shareholder fees and the fund's annual operating expenses
are exactly as described in the fee table. This example illustrates
the effect of fees and expenses, but is not meant to suggest actual or
expected fees and expenses or returns, all of which may vary. For
every $10,000 you invested, here's how much you would pay in total
expenses if you close your account after the number of years
indicated:
1 year $
3 years $
5 years $
10 years $
Fund Management
FMR is the fund's manager.
As the manager, FMR is responsible for choosing the fund's investments
and handling its business affairs.
Affiliates assist FMR with foreign investments:
(small solid bullet) Fidelity Management & Research (U.K.) Inc. (FMR
U.K.), in London, England, serves as a sub-adviser for Ginnie Mae and
Intermediate Government Income. FMR U.K. was organized in 1986 to
provide investment research and advice to FMR. Currently, FMR U.K.
provides investment research and advice on issuers based outside the
United States and may also provide investment advisory services for
the fund.
(small solid bullet) Fidelity Management & Research Far East Inc. (FMR
Far East), in Tokyo, Japan, serves as a sub-adviser for Ginnie Mae.
FMR Far East was organized in 1986 to provide investment research and
advice to FMR. Currently, FMR Far East provides investment research
and advice on issuers based outside the United States and may also
provide investment advisory services for the fund.
Fidelity Investments Money Management, Inc. (FIMM) serves as
sub-adviser for the fund. FIMM is primarily responsible for choosing
investments for the fund. FIMM is an affiliate of FMR.
[Portfolio Manager Biography to be filed by subsequent amendment]
Buying Shares
The fund's shares are sold without a sales charge.
You may buy shares of the fund after reading this profile or you may
request a prospectus to review before investing. If you buy shares
after reviewing this profile, Fidelity will send you a prospectus with
your confirmation.
The minimum initial purchase amount is $2,500 ($500 for certain
retirement accounts), the minimum additional purchase amount is $250
($100 for certain retirement accounts), and the minimum balance amount
is $2,000($500 for certain retirement accounts).
If you buy through an investment professional or through a retirement
account, certain account features and policies may differ.
Selling Shares
You may sell all or a portion of your shares on any business day by
phone, by mail, by wire, or over the Internet through Fidelity's Web
site. You may also sell shares by exchange to another Fidelity fund.
Both accounts must have the same registration, including name, address
and taxpayer ID. A signature guarantee may be required in certain
circumstances.
Distributions and Taxes
The fund declares dividends daily and pays them monthly. The fund
normally pays capital gain distributions in September and December.
You may elect to have your dividends and/or capital gain distributions
automatically reinvested in additional shares of the fund, paid in
cash, or automatically invested in shares of another identically
registered Fidelity fund. If you do not indicate a choice on your
application, your distributions will be automatically reinvested. Not
all distribution options are available for every account.
Distributions you receive from the fund are subject to federal income
tax, and may also be subject to state or local taxes.
For federal tax purposes, the fund's dividends and distributions of
short-term capital gains are taxable to you as ordinary income. The
fund's distributions of long-term capital gains are taxable to you
generally as capital gains.
Summary of Available Services
Fidelity provides a number of services to its shareholders. Among them
are:
(small solid bullet) 24 hour telephone assistance, 1-800-544-6666;
(small solid bullet) Fidelity's Web site, www.fidelity.com;
(small solid bullet) TouchTone Xpress(Registered trademark) (an
automated service for obtaining account information by phone),
1-800-544-5555;
(small solid bullet) Over 75 walk-in Investor Centers nationwide;
(small solid bullet) Exchange privileges among Fidelity funds;
(small solid bullet) Regular investment and withdrawal plan; and
(small solid bullet) Checkwriting.
The third party marks appearing above are the marks of their
respective owners.
F U N D P R O F I L E
Fidelity
GOVERNMENT INCOME
FUND
EDGAR Submission type 497k1
Filed pursuant to Rule 497(k)(1)(i)
GOVERNMENT INCOME FUND
This profile summarizes key information about the fund that is
included in the fund's prospectus. The fund's prospectus includes
additional information about the fund, including a more detailed
description of the risks associated with investing in the fund that
you may want to consider before you invest. You may obtain the
prospectus and other information about the fund at no cost by calling
Fidelity(registered trademark) at 1-800-544-8888 or visiting
Fidelity's Web site at www.fidelity.com.
(fidelity_logo_graphic)(registered)
82 Devonshire Street, Boston, MA 02109
Insert item Code number GOV-profile-0999
Investment Summary
INVESTMENT OBJECTIVE
GOVERNMENT INCOME FUND seeks a high level of current income,
consistent with preservation of principal.
PRINCIPAL INVESTMENT STRATEGIES
Fidelity Management & Research Company (FMR)'s principal investment
strategies include:
(small solid bullet) Normally investing at least 65% of total assets
in U.S. Government securities.
(small solid bullet) Investing in instruments related to U.S.
Government securities.
(small solid bullet) Managing the fund to have similar overall
interest rate risk to the Lehman Brothers Government Bond Index.
(small solid bullet) Allocating assets across different market sectors
and maturities.
(small solid bullet) Analyzing a security's structural features,
current pricing and trading opportunities, and the credit quality of
its issuer to select investments.
PRINCIPAL INVESTMENT RISKS
The fund is subject to the following principal investment risks:
(small solid bullet) INTEREST RATE CHANGES. Interest rate increases
can cause the price of a debt security to decrease.
(small solid bullet) PREPAYMENT. The ability of an issuer of a debt
security to repay principal prior to a security's maturity can cause
greater price volatility if interest rates change.
(small solid bullet) ISSUER-SPECIFIC CHANGES. The value of an
individual security or particular type of security can be more
volatile than the market as a whole and can perform differently than
the value of the market as a whole.
In addition, the fund is considered non-diversified and can invest a
greater portion of assets in securities of individual issuers than a
diversified fund. As a result, changes in the market value of a single
issuer could cause greater fluctuations in share price than would
occur in a more diversified fund.
An investment in the fund is not a deposit of a bank and is not
insured or guaranteed by the Federal Deposit Insurance Corporation or
any other government agency.
When you sell your shares of the fund, they could be worth more or
less than what you paid for them.
Additional information about the fund's investments is available in
the fund's annual and semi-annual reports to shareholders. In the
fund's annual and semi-annual reports, you will find a discussion of
the market conditions and investment strategies that significantly
affected the fund's performance during the period covered by the
report. You may obtain a free copy of the fund's annual or semi-annual
report by calling 1-800-544-8888.
Performance
The following information illustrates the changes in Government
Income's performance from year to year and compares the fund's
performance to the performance of a market index and an average of the
performance of similar funds over various periods of time. Returns are
based on past results and are not an indication of future performance.
YEAR-BY-YEAR RETURNS
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
GOVERNMENT INCOME
Calendar Years 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999
% % % % % % % % % %
</TABLE>
Percentage (%)
Row: 1, Col: 1, Value: nil
Row: 2, Col: 1, Value: nil
Row: 3, Col: 1, Value: nil
Row: 4, Col: 1, Value: nil
Row: 5, Col: 1, Value: nil
Row: 6, Col: 1, Value: nil
Row: 7, Col: 1, Value: nil
Row: 8, Col: 1, Value: nil
Row: 9, Col: 1, Value: nil
Row: 10, Col: 1, Value: nil
DURING THE PERIODS SHOWN IN THE CHART FOR GOVERNMENT INCOME, THE
HIGHEST RETURN FOR A QUARTER WAS __% (QUARTER ENDING [CALENDAR
QUARTER: [MONTH][DATE]], [YEAR]) AND THE LOWEST RETURN FOR A QUARTER
WAS __% (QUARTER ENDING [CALENDAR QUARTER: [MONTH][DATE]], [YEAR]).
AVERAGE ANNUAL RETURNS
For the periods ended June Past 1 year Past 5 years Past 10 years
30, 1999
Government Income % % %
Lehman Bros. Gov't Bond Index % % %
Lipper General U.S.-Gov't % % %
Funds Average
The Lehman Brothers Government Bond Index is a market value-weighted
index of U.S. Government and government agency securities (other than
mortgage securities) with maturities of one year or more.
The Lipper General U.S. Government Funds Average reflects the
performance (excluding sales charges) of mutual funds with similar
objectives.
Fee Table
The following table describes the fees and expenses that are incurred
when you buy, hold or sell shares of the fund. [The annual fund
operating expenses provided below for the fund are based on historical
expenses, adjusted to reflect current fees.][The annual fund operating
expenses provided below for the fund do not reflect the effect of any
expense reimbursements or reduction of certain expenses during the
period.][The annual fund operating expenses provided below for the
fund are based on historical expenses.]
SHAREHOLDER FEES (PAID BY THE INVESTOR DIRECTLY)
Sales charge (load) on None
purchases and reinvested
distributions
Deferred sales charge (load) None
on redemptions
Annual account maintenance $12.00
fee (for accounts under
$2,500)
ANNUAL FUND OPERATING EXPENSES (PAID FROM FUND ASSETS)
Management fee %
Distribution and Service None
(12b-1) fee
Other expenses %
Total annual fund operating %
expenses
[A portion of the brokerage commissions that the fund pays is used to
reduce the fund's expenses. In addition, the fund has entered into
arrangements with its custodian and transfer agent whereby credits
realized as a result of uninvested cash balances are used to reduce
custodian and transfer agent expenses.]
This EXAMPLE helps you compare the cost of investing in the fund with
the cost of investing in other mutual funds.
Let's say, hypothetically, that the fund's annual return is 5% and
that your shareholder fees and the fund's annual operating expenses
are exactly as described in the fee table. This example illustrates
the effect of fees and expenses, but is not meant to suggest actual or
expected fees and expenses or returns, all of which may vary. For
every $10,000 you invested, here's how much you would pay in total
expenses if you close your account after the number of years
indicated:
1 year $
3 years $
5 years $
10 years $
Fund Management
FMR is the fund's manager.
As the manager, FMR is responsible for choosing the fund's investments
and handling its business affairs.
Fidelity Investments Money Management, Inc. (FIMM) serves as
sub-adviser for the fund. FIMM is primarily responsible for choosing
investments for the fund. FIMM is an affiliate of FMR.
[Portfolio Manager Biography to be filed by subsequent amendment]
Buying Shares
The fund's shares are sold without a sales charge.
You may buy shares of the fund after reading this profile or you may
request a prospectus to review before investing. If you buy shares
after reviewing this profile, Fidelity will send you a prospectus with
your confirmation.
The minimum initial purchase amount is $2,500 ($500 for certain
retirement accounts), the minimum additional purchase amount is $250
($100 for certain retirement accounts), and the minimum balance amount
is $2,000 ($500 for certain retirement accounts).
If you buy through an investment professional or through a retirement
account, certain account features and policies may differ.
Selling Shares
You may sell all or a portion of your shares on any business day by
phone, by mail, by wire, or over the Internet through Fidelity's Web
site. You may also sell shares by exchange to another Fidelity fund.
Both accounts must have the same registration, including name, address
and taxpayer ID. A signature guarantee may be required in certain
circumstances.
Distributions and Taxes
The fund declares dividends daily and pays them monthly. The fund
normally pays capital gain distributions in September and December.
You may elect to have your dividends and/or capital gain distributions
automatically reinvested in additional shares of the fund, paid in
cash, or automatically invested in shares of another identically
registered Fidelity fund. If you do not indicate a choice on your
application, your distributions will be automatically reinvested. Not
all distribution options are available for every account.
Distributions you receive from the fund are subject to federal income
tax, and may also be subject to state or local taxes.
For federal tax purposes, the fund's dividends and distributions of
short-term capital gains are taxable to you as ordinary income. The
fund's distributions of long-term capital gains are taxable to you
generally as capital gains.
Summary of Available Services
Fidelity provides a number of services to its shareholders. Among them
are:
(small solid bullet) 24 hour telephone assistance, 1-800-544-6666;
(small solid bullet) TDD - Service for the Deaf and Hearing-Impaired
(9:00 a.m. - 9:00 p.m. Eastern time), 1-800-544-0118;
(small solid bullet) Fidelity's Web site, www.fidelity.com;
(small solid bullet) TouchTone Xpress(Registered trademark) (an
automated service for obtaining account information by phone),
1-800-544-5555;
(small solid bullet) Over 75 walk-in Investor Centers nationwide;
(small solid bullet) Exchange privileges among Fidelity funds;
(small solid bullet) Regular investment and withdrawal plans; and
(small solid bullet) Checkwriting.
The third party marks appearing above are the marks of their
respective owners.
F U N D P R O F I L E
Fidelity
INTERMEDIATE GOVERNMENT INCOME
FUND
EDGAR Submission type 497k1
Filed pursuant to Rule 497(K)(1)(1)
INTERMEDIATE GOVERNMENT INCOME FUND
This profile summarizes key information about the fund that is
included in the fund prospectus. The fund's prospectus includes
additional information about the fund, including a more detailed
description of the risks associated with investing in fund that you
may want to consider before you invest. You may obtain the prospectus
and other information about the fund at no cost by calling
Fidelity(registered trademark) at 1-800-544-8888 or visiting
Fidelity's Web site at www.fidelity.com.
(fidelity_logo_graphic)(registered)
82 Devonshire Street, Boston, MA 02109
Insert item Code number SLM-profile-0999
Investment Summary
INVESTMENT OBJECTIVE
INTERMEDIATE GOVERNMENT INCOME FUND seeks a high level of current
income as is consistent with preservation of capital.
PRINCIPAL INVESTMENT STRATEGIES
Fidelity Management & Research Company (FMR)'s principal investment
strategies include:
(small solid bullet) Normally investing at least 65% of total assets
in U.S. Government securities.
(small solid bullet) Investing in instruments related to U.S.
Government securities.
(small solid bullet) Managing the fund to have similar overall
interest rate risk to the Lehman Brothers Intermediate Government Bond
Index.
(small solid bullet) Normally maintaining a dollar-weighted average
maturity between three and 10 years.
(small solid bullet) Allocating assets across different market sectors
and maturities.
(small solid bullet) Analyzing a security's structural features,
current pricing and trading opportunities, and the credit quality of
its issuer to select investments.
PRINCIPAL INVESTMENT RISKS
The fund is subject to the following principal investment risks:
(small solid bullet) INTEREST RATE CHANGES. Interest rate increases
can cause the price of a debt security to decrease.
(small solid bullet) PREPAYMENT. The ability of an issuer of a debt
security to repay principal prior to a security's maturity can cause
greater price volatility if interest rates change.
(small solid bullet) ISSUER-SPECIFIC CHANGES. The value of an
individual security or particular type of security can be more
volatile than the market as a whole and can perform differently than
the value of the market as a whole.
An investment in the fund is not a deposit of a bank and is not
insured or guaranteed by the Federal Deposit Insurance Corporation or
any other government agency.
When you sell your shares of the fund, they could be worth more or
less than what you paid for them.
Additional information about the fund's investments is available in
the fund's annual and semi-annual reports to shareholders. In the
fund's annual and semi-annual reports, you will find a discussion of
the market conditions and investment strategies that significantly
affected the fund's performance during the period covered by the
report. You may obtain a free copy of the fund's annual or semi-annual
report by calling 1-800-544-8888.
Performance
The following information illustrates the changes in Intermediate
Government Income fund's performance from year to year and compares
the fund's performance to the performance of a market index and an
average of the performance of similar funds over various periods of
time.
Returns are based on past results and are not an indication of future
performance.
YEAR-BY-YEAR RETURNS
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
INTERMEDIATE GOVERNMENT INCOME
Calendar Years 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999
% % % % % % % % % %
</TABLE>
Percentage (%)
Row: 1, Col: 1, Value: nil
Row: 2, Col: 1, Value: nil
Row: 3, Col: 1, Value: nil
Row: 4, Col: 1, Value: nil
Row: 5, Col: 1, Value: nil
Row: 6, Col: 1, Value: nil
Row: 7, Col: 1, Value: nil
Row: 8, Col: 1, Value: nil
Row: 9, Col: 1, Value: nil
Row: 10, Col: 1, Value: nil
DURING THE PERIODS SHOWN IN THE CHART FOR INTERMEDIATE GOVERNMENT
INCOME, THE HIGHEST RETURN FOR A QUARTER WAS __% (QUARTER ENDING
[CALENDAR QUARTER: [MONTH][DATE]], [YEAR]) AND THE LOWEST RETURN FOR A
QUARTER WAS __% (QUARTER ENDING [CALENDAR QUARTER: [MONTH][DATE]],
[YEAR]).
AVERAGE ANNUAL RETURNS
For the periods ended June Past 1 year Past 5 years Past 10 years
30, 1999
Intermediate Government Income % % %
Lehman Brothers Intermediate % % %
Government Bond Index
Lipper Intermediate U.S. % % %
Government Funds Average
If FMR had not reimbursed certain fund expenses during these periods,
fund's returns would have been lower.
The Lehman Brothers Intermediate Government Bond Index is a market
value-weighted index of U.S. Government fixed-rate debt issues with
maturities between one and 10 years.
The Lipper Intermediate U.S. Government Funds Average reflects the
performance (excluding sales charges) of mutual funds with similar
objectives.
Fee Table
The following table describes the fees and expenses that are incurred
when you buy, hold or sell shares of the fund. [The annual fund
operating expenses provided below for the fund are based on historical
expenses, adjusted to reflect current fees.][The annual fund operating
expenses provided below for the fund do not reflect the effect of any
expense reimbursements or reduction of certain expenses during the
period.][The annual fund operating expenses provided below for the
fund are based on historical expenses.]
SHAREHOLDER FEES (PAID BY THE INVESTOR DIRECTLY)
Sales charge (load) on None
purchases and reinvested
distributions
Deferred sales charge (load) None
on redemptions
Annual account maintenance $12.00
fee (for accounts under
$2,500)
ANNUAL FUND OPERATING EXPENSES (PAID FROM FUND ASSETS)
Management fee %
Distribution and Service
(12b-1) fee
Other expenses %
Total annual fund operating %
expenses
FMR has entered into arrangements on behalf of the fund with the
fund's custodian and transfer agent whereby credits realized as a
result of uninvested cash balances are used to reduce fund expenses.
This EXAMPLE helps you compare the cost of investing in the fund with
the cost of investing in other mutual funds.
Let's say, hypothetically, that the fund's annual return is 5% and
that your shareholder fees and the fund's annual operating expenses
are exactly as described in the fee table. This example illustrates
the effect of fees and expenses, but is not meant to suggest actual or
expected fees and expenses or returns, all of which may vary. For
every $10,000 you invested, here's how much you would pay in total
expenses if you close your account after the number of years
indicated:
1 year $
3 years $
5 years $
10 years $
Fund Management
FMR is the fund's manager.
As the manager, FMR is responsible for choosing the fund's investments
and handling its business affairs.
Affiliates assist FMR with foreign investments:
(small solid bullet) Fidelity Management & Research (U.K.) Inc. (FMR
U.K.), in London, England, serves as a sub-adviser for Ginnie Mae and
Intermediate Government Income. FMR U.K. was organized in 1986 to
provide investment research and advice to FMR. Currently, FMR U.K.
provides investment research and advice on issuers based outside the
United States and may also provide investment advisory services for
the fund.
(small solid bullet) Fidelity Management & Research Far East Inc. (FMR
Far East), in Tokyo, Japan, serves as a sub-adviser for Intermediate
Government Income. FMR Far East was organized in 1986 to provide
investment research and advice to FMR. Currently, FMR Far East
provides investment research and advice on issuers based outside the
United States and may also provide investment advisory services for
the fund.
Fidelity Investments Money Management, Inc. (FIMM), serves as
sub-adviser for the fund. FIMM is primarily responsible for choosing
investments for the fund. FIMM is an affiliate of FMR.
[Portfolio manager Biography to be filed by subsequent amendment]
Buying Shares
The fund's shares are sold without a sales charge.
You may buy shares of the fund after reading this profile or you may
request a prospectus to review before investing. If you buy shares
after reviewing this profile, Fidelity will send you a prospectus with
your confirmation.
The minimum initial purchase amount is $2,500 ($500 for certain
retirement accounts), the minimum additional purchase amount is $250
($100 for certain retirement accounts), and the minimum balance amount
is $2,000 ($500 for certain retirement accounts).
If you buy through an investment professional or through a retirement
account, certain account features and policies may differ.
Selling Shares
You may sell all or a portion of your shares on any business day by
phone, by mail, by wire, or over the Internet through Fidelity's Web
site. You may also sell shares by exchange to another Fidelity fund.
Both accounts must have the same registration, including name, address
and taxpayer ID. A signature guarantee may be required in certain
circumstances.
Distributions and Taxes
The fund declares dividends daily and pays them monthly. The fund
normally pays capital gain distributions in September and December.
You may elect to have your dividends and/or capital gain distributions
automatically reinvested in additional shares of the fund, paid in
cash, or automatically invested in shares of another identically
registered Fidelity fund. If you do not indicate a choice on your
application, your distributions will be automatically reinvested. Not
all distribution options are available for every account.
Distributions you receive from the fund are subject to federal income
tax, and may also be subject to state or local taxes.
For federal tax purposes, the fund's dividends and distributions of
short-term capital gains are taxable to you as ordinary income. The
fund's distributions of long-term capital gains are taxable to you
generally as capital gains.
Summary of Available Services
Fidelity provides a number of services to its shareholders. Among them
are:
(small solid bullet) 24 hour telephone assistance, 1-800-544-6666;
(small solid bullet) TDD - Service for the Deaf and Hearing-Impaired
(9:00 a.m. - 9:00 p.m. Eastern time), 1-800-544-0118;
(small solid bullet) Fidelity's Web site, www.fidelity.com;
(small solid bullet) TouchTone Xpress(Registered trademark) (an
automated service for obtaining account information by phone),
1-800-544-5555;
(small solid bullet) Over 75 walk-in Investor Centers nationwide;
(small solid bullet) Exchange privileges among Fidelity funds;
(small solid bullet) Regular investment and withdrawal plans
(small solid bullet) Checkwriting.
The third party marks appearing above are the marks of their
respective owners.
====================Front of Application======================
FIDELITY MUTUAL FUND (Fidelity Logo Graphic)
NEW ACCOUNT APPLICATION (registered trademark)
P.O. Box 5000
Cincinnati, OH 45273-8698
You may invest in the fund after reviewing the profile(s) or
the prospectus(es) for the fund(s).
For help with this application, or for an IRA, Keogh or
Business Account application, call us anytime at 1-800-544-8888.
If you are opening your account by an exchange from an existing
Fidelity account, call us at 1-800-544-7777.
1: PLEASE TELL US HOW WE SHOULD ESTABLISH YOUR ACCOUNT
______________________________________________________________
Account registration:
______________________________________________________________
__ Individual __ Joint Tenants - __ Custodial
Rights of (UGMA/UTMA)
Survivorship 1 Under the (state)
__ Tenants in Common 1 ____ Uniform
__ Community Property 1 Gifts/Transfer
to Minors Act
______________________________________________________________
/_/ Trust Accounts:
______________________________________________________________
Trustee(s) Name Trust Taxpayer
(first, MI, last): Identification Number:
______________________________________________________________
Name of Trust: for the benefit of: Date of Trust
(Month, day, year):
______________________________________________________________
Name:
______________________________________________________________
Account Owner/ Joint Owner/Custodian Name
Minor Name (first, MI, last): (first, MI, last):
______________________________________________________________
Address and Phone: /_/ Check here if this is
a new address.
______________________________________________________________
Street Address and City State Zip
Apartment or Box Number: 2
______________________________________________________________
Evening Phone (Home): Daytime Phone (Work):
( ) ( )
______________________________________________________________
1 If you are establishing a joint account and do not check a box,
the account will be registered as joint tenants with rights of
survivorship. Types of joint ownership are governed by the laws
of your state of residence. If you need more information about
which are appropriate in your state, please ask your state tax
officials or financial advisor.
2 If you have provided a P.O. Box, please include your residential
address with this application.
2: WE ARE REQUIRED TO REQUEST THE FOLLOWING INFORMATION
______________________________________________________________
Account Owner/Minor Joint Account Owner/
Custodian 1
______________________________________________________________
Social Security ___________________ ___________________
or taxpayer
identification number 1:
Date of Birth
(month/day/year) ______ _____ ______ _______ ____ ______
______________________________________________________________
Citizenship
Country of
citizenship: _U.S. _Other________ _U.S. _Other_______
Country of
tax residence: _U.S. _Other________ _U.S. _Other_______
______________________________________________________________
Occupation: We
are required by the
National Association
of Securities
Dealers (NASD) to
ask for this
information.
______________________________________________________________
Employer's Name
and Address:
______________________________________________________________
Affiliations: _I am affiliated _I am affiliated
with, or work for, with, or work for,
a member firm of a member firm of
the NASD the NASD
______________________________________________________________
1 The Social Security Number or taxpayer identification number
for account owner/minor is used for tax reporting purposes.
(The custodian's Social Security Number will be used to determine
eligibility for maintenance fee waivers.)
3: INVESTMENT INFORMATION
______________________________________________________________
Please make your check payable to the full name of the Fidelity
fund in which you are investing. Note that Fidelity cannot accept
foreign checks or Traveler's checks. Be sure to read the profile(s)
or the prospectus(es) for the fund(s) you choose before your initial
investment and, if you invest based on the profile, be sure to read
the prospectus(es) when [it/they] [is/are] sent to you.
Fund Name: Initial Investment Amount - Fund
minimums vary, see the profile or the
prospectus for additional details.
A.______________________ $____,________,________._______
B.______________________ $____,________,________._______
C.______________________ $____,________,________._______
Dividend & Capital Gain Distributions Check one box: (If no box
is checked, we will reinvest all distributions.)
_ Reinvest all dividends _ Pay all dividends _ Pay all
and capital gains in and capital gains dividends and
my account. directly to my capital gains
bank account via to me by check.
MoneyLine
(registered
trademark). Please
attach a voided
check.
______________________________________________________________
* Note that some funds may charge a sales load and/or a short-term
trading fee. In addition an annual Fidelity mutual fund maintenance
fee of $12 may be deducted from accounts with a balance of less than
$2,500. Minimum initial investments vary by fund. See your profile
or your prospectus for additional details.
====================Back of Application=======================
4: OPTIONAL ACCOUNT FEATURES
______________________________________________________________
Fidelity Automatic Account Builder (registered trademark)
This service lets you invest automatically (monthly or quarterly)
from your bank account to your Fidelity account. Change or cancel
your plan anytime with a phone call at least one business day
before your scheduled investment. (Automatic Account Builder
normally becomes active 20 days after your application is
processed.)
To establish this feature, complete the information below and staple
to the left a voided check from your bank account. One common name
must appear on your Fidelity and bank accounts.
Assign Investment Amount Investment Frequency (month,
to Fund (Spartan minimum: (check one) day,
(from $500; Non-Spartan year)
Section minimum: $100)
3)
__A. $____,______.____ _Monthly _Quarterly beginning _____
__B. $____,______.____ _Monthly _Quarterly beginning _____
__C. $____,______.____ _Monthly _Quarterly beginning _____
Direct Deposit
This service lets you invest directly from your paycheck or your
Social Security check. The minimum investment is $100 per pay
period. To establish this feature, check the appropriate box below.
We will send you an authorization form to complete and give to
your employer.
_My check is from the _My check is from someone other than
federal government. the federal government.
Transfers Between Your Bank & Fidelity
This electronic link with your bank account offers flexible access
to your money. Transfers occur only when you initiate them and may
be made through either Bank Wire or Fidelity MoneyLine (Registered
trademark). (See the prospectus for details and minimum amounts.
MoneyLine normally becomes active 20 days after your application
is processed.) Your bank may charge a fee. This feature is not
available with passbook savings accounts.
_ To establish this feature, check the box at left and staple a
voided check from your bank account. One common name must appear
on your Fidelity and bank accounts. [F3]
Telephone Redemptions & Exchanges
You automatically have the ability to make redemptions or exchanges
by telephone. Exchanges can be made only between Fidelity funds
that have the same account ownership. Each fund has rules on the
number of exchanges allowed each year. Some funds have administrative
fees (of up to $7.50) and trading fees (of up to 3.0% on exchanges.
(See the appropriate fund's prospectus for details.) The exchange
privilege may be terminated or modified by
Fidelity in the future.
Checkwriting
_Please add this feature to my account. All owners must sign the
Signature Card for checkwriting and the section below at the end
of this application. For custodial accounts, only the custodian
may sign the Signature Card.
Checkwriting is an optional feature and is not available on all
funds. In addition there may be a charge for checkwriting. See
prospectus for details.
______________________________________________________________
STAPLE VOIDED CHECK HERE.
______________________________________________________________
5: SIGNATURE
Each owner must sign this section.
By signing this application, I certify that:
(bullet) I have received and read the profile or the prospectus for
the fund in which I am investing. [I understand that if I am investing
based on the profile, I will be sent a prospectus with my
confirmation.] I agree to the terms of the profile and the prospectus.
I have the authority and legal capacity to purchase mutual fund
shares, am of legal age and believe each investment is suitable for
me. It is my responsibility to read the prospectus of any fund into
which I exchange.
(bullet) I understand that all information provided in sections 1, 2,
4 and 5 will apply to any new fund into which my shares may be
exchanged.
(bullet) I understand that neither this fund nor Fidelity Distributors
Corporation is a bank, and fund shares are not backed or guaranteed by
any bank or insured by the FDIC.
(bullet) I ratify any instructions, including telephone instructions,
given on this account. I agree that neither the fund nor Fidelity
Service Company, Inc. will be liable for any loss, cost or expense for
acting upon any instructions if it follows reasonable procedures
designed to prevent unauthorized transactions. (If you do not want the
ability to redeem and exchange by telephone, call Fidelity for
instructions.) I consent to the use of recorded telephone
conversations.
(bullet) I understand that for joint tenant accounts "I" refers to all
account owners, and each of the account owners agrees that any account
owner has authority to act on the account without notice to the other
account owners. Fidelity Service Company, Inc. in its sole discretion,
and for its protection, may require the written consent of all account
owners prior to acting upon the instructions of any account owner.
(bullet) If I am a U.S. Citizen or Resident Alien, as I have indicated
above, I certify under penalties of perjury that (1) the Social
Security or taxpayer identification number provided above is correct
(or I am waiting for a number to be issued to me), and (2) I am not
subject to backup withholding because (a) I am exempt from backup
withholding, or (b) I have not been notified by the Internal Revenue
Service (IRS) that I am subject to backup withholding for failure to
report all dividend and interest income, or (c) I have been notified
by the IRS that I am no longer subject to backup withholding. (Please
cross out item 2 if it does not apply to you.)
(bullet) If I am a Non-Resident Alien, as I have indicated above, I
certify under penalties of perjury that I am not a U.S. Citizen or
Resident Alien, that the information entered above is correct, that if
a reduced rate of tax or exemption from tax applies, I have complied
with all requirements to qualify for the reduced tax, and I am an
exempt foreign person under IRS regulations.
The Internal Revenue Service does not require your consent to any
provision of this document other than the certifications required to
avoid backup withholding.
Signature of Owner Signature of Joint Owner
Date (month,day,year) Date (month,day,year)
X____________________________ X______________________________
For trusts, all trustees must sign. Only the custodian should sign the
application for custodial accounts.
Not authorized for distribution unless preceded or accompanied by a
current profile or prospectus.
61605.001 Fidelity distributors Corporation MFFK-APP-0998
1.706324.101
===================Front of Signature Card====================
SIGNATURE CARD FOR CHECKWRITING ________________________
Please do not detach this card.
Checkwriting is available only for money market funds and certain bond
funds. Checkwriting minimums vary and fees may apply. See prospectus
for more information.
Please sign within the boxes
below using BLACK BALLPOINT INK.
Please use a pen and print
clearly in CAPITAL LETTERS.
Owner's Name
(first,MI,last):
____________________________ X________________________________
Joint Owner's Name
(first,MI,last):
____________________________ X________________________________
__Check here if more than one
signature will be required
on checks. If this box is
not checked, only one
signature will be required
on checks. 8324100
==================Back of Signature Card======================
By signing this signature card on the reverse side, the signatory(ies)
agree(s) to be subject to the terms and conditions, guidelines, and
rules applicable to your account as now in effect and as amended from
time to time, of the fund(s) and of UMB Bank, n.a.. ("the Bank"), as
they pertain to the use of redemption checks; therefore, all
registered owners must sign this signature card. All checks will
require only one signature unless otherwise indicated on the face of
this card. Each signatory guarantees the genuineness of the other's
signature on this card.
The Bank is hereby appointed agent by the shareholders signing this
card and, as such agent, is directed to request redemption of shares
of such Fidelity fund(s) as designated by the shareholders from time
to time, and as recorded on Fidelity's records, upon receipt of, and
to the amount of, checks drawn upon this account(s). In so acting, the
Bank shall be liable only for its own negligence. Shareholders will be
subject the the Bank's rules, regulations and associated laws
governing check collection, including the Uniform Commercial Code as
enacted in the State of Missouri.
It is further agreed as follows:
1. All items, with exception of those drawn on Spartan (registered
trademark) money market funds, Fidelity Daily Income Trust ("FDIT"),
and Fidelity Municipal Money Market Fund, must be for a minimum of
$500 (or such other minimum amounts as may from time to time be
established upon prior written notice to the shareholders, including
the accounts of Spartan money market funds, FDIT and Fidelity
Municipal Money Market Fund), or they may be returned to shareholders
marked "Refer to Maker."
2 This card supersedes any card already on file for the same T Master
Account or fund or account number.
3. Refer to the fund prospectus for minimum check amounts and any
applicable fees.
4. You may obtain a copy of the "Statement of Terms and Conditions"
applicable to your account by calling Fidelity.
