SUPPLEMENT TO THE FIDELITY BALANCED FUND SEPTEMBER 26, 1997 PROSPECTUS
The following information replaces similar information found in the
"Dividends, Capital Gains, and Taxes" section beginning on page 24.
For federal tax purposes, the fund's income and short-term capital
gains are distributed as dividends and taxed as ordinary income;
capital gain distributions are taxed as long-term capital gains. Every
January, Fidelity will send you and the IRS a statement showing the
tax characterization of distributions paid to you in the previous
year.
SUPPLEMENT TO THE FIDELITY BALANCED FUND
SEPTEMBER 26, 1997
STATEMENT OF ADDITIONAL INFORMATION
THE FOLLOWING INFORMATION REPLACES SIMILAR INFORMATION FOUND IN THE
"DISTRIBUTIONS AND TAXES" SECTION BEGINNING ON PAGE 15.
CAPITAL GAIN DISTRIBUTIONS. Long-term capital gains earned by the fund
on the sale of securities and distributed to shareholders are
federally taxable as long-term capital gains, regardless of the length
of time shareholders have held their shares. If a shareholder receives
a capital gain distribution on shares of the fund, and such shares are
held six months or less and are sold at a loss, the portion of the
loss equal to the amount of the capital gain distribution will be
considered a long-term loss for tax purposes. Short-term capital gains
distributed by the fund are taxable to shareholders as dividends, not
as capital gains.
SUPPLEMENT TO THE
FIDELITY GLOBAL BALANCED FUND SEPTEMBER 26, 1997 PROSPECTUS
The following information replaces similar information found in the
"Dividends, Capital Gains, and Taxes" section on page 27.
For federal tax purposes, the fund's income and short-term capital
gains are distributed as dividends and taxed as ordinary income;
capital gain distributions are taxed as long-term capital gains. Every
January, Fidelity will send you and the IRS a statement showing the
tax characterization of distributions paid to you in the previous
year.
The following information replaces similar information found in the
"Dividends, Capital Gains, and Taxes" section on page 27.
EFFECT OF FOREIGN TAXES. Foreign governments may impose
taxes on the fund and its investments, and these taxes generally will
reduce the fund's distributions. However, if you meet certain holding
period requirements with respect to your fund shares, an offsetting
tax credit may be available to you. If you do not meet such holding
period requirements, you may still be entitled to a deduction for
certain foreign taxes. In either case, your tax statement will show
more taxable income or capital gains than were actually distributed by
the fund, but will also show the amount of the available offsetting
credit or deduction.
SUPPLEMENT TO THE FIDELITY GLOBAL BALANCED FUND
SEPTEMBER 26, 1997
STATEMENT OF ADDITIONAL INFORMATION
The following information replaces similar information found in the
"Distributions and Taxes" section on page 28.
CAPITAL GAIN DISTRIBUTIONS. Long-term capital gains earned
by the fund on the sale of securities and distributed to shareholders
are federally taxable as long-term capital gains, regardless of the
length of time shareholders have held their shares. If a shareholder
receives a capital gain distribution on shares of the fund, and such
shares are held six months or less and are sold at a loss, the portion
of the loss equal to the amount of the capital gain distribution will
be considered a long-term loss for tax purposes. Short-term capital
gains distributed by the fund are taxable to shareholders as
dividends, not as capital gains.
The following information supplements similar information found in
the "Valuation" section on page 22.
VALUATION
Fidelity Service Company, Inc. (FSC) normally determines the fund's
net asset value per share (NAV) as of the close of the New York Stock
Exchange (NYSE) (normally 4:00 p.m. Eastern time). The valuation of
portfolio securities is determined as of this time for the purpose of
computing the fund's NAV.
SUPPLEMENT TO THE FIDELITY LOW-PRICED STOCK FUND
SEPTEMBER 26, 1997 PROSPECTUS
The following information replaces similar information found in the
"Dividends, Capital Gains, and Taxes" section on page 25.
For federal tax purposes, the fund's income and short-term capital
gains are distributed as dividends and taxed as ordinary income;
capital gain distributions are taxed as long-term capital gains. Every
January, Fidelity will send you and the IRS a statement showing the
tax characterization of distributions paid to you in the previous
year.
The following information replaces similar information found in the
"Dividends, Capital Gains, and Taxes" section on page 25.
EFFECT OF FOREIGN TAXES. Foreign governments may impose taxes on the
fund and its investments, and these taxes generally will reduce the
fund's distributions. However, if you meet certain holding period
requirements with respect to your fund shares, an offsetting tax
credit may be available to you. If you do not meet such holding period
requirements, you may still be entitled to a deduction for certain
foreign taxes. In either case, your tax statement will show more
taxable income or capital gains than were actually distributed by the
fund, but will also show the amount of the available offsetting credit
or deduction.
SUPPLEMENT TO THE FIDELITY LOW-PRICED STOCK FUND
SEPTEMBER 26, 1997
STATEMENT OF ADDITIONAL INFORMATION
THE FOLLOWING INFORMATION REPLACES SIMILAR INFORMATION FOUND IN THE
"DISTRIBUTIONS AND TAXES" SECTION ON PAGE 16.
CAPITAL GAIN DISTRIBUTIONS. Long-term capital gains earned by the fund
on the sale of securities and distributed to shareholders are
federally taxable as long-term capital gains, regardless of the length
of time shareholders have held their shares. If a shareholder receives
a capital gain distribution on shares of the fund, and such shares are
held six months or less and are sold at a loss, the portion of the
loss equal to the amount of the capital gain distribution will be
considered a long-term loss for tax purposes. Short-term capital gains
distributed by the fund are taxable to shareholders as dividends, not
as capital gains.
SUPPLEMENT TO THE
FIDELITY PURITAN(registered trademark) FUND SEPTEMBER 26, 1997
PROSPECTUS
The following information replaces similar information found in the
"Dividends, Capital Gains, and Taxes" section beginning on page 25.
For federal tax purposes, the fund's income and short-term capital
gains are distributed as dividends and taxed as ordinary income;
capital gain distributions are taxed as long-term capital gains. Every
January, Fidelity will send you and the IRS a statement showing the
tax characterization of distributions paid to you in the previous
year.
EFFECT OF FOREIGN TAXES. Foreign governments may impose taxes on the
fund and its investments, and these taxes generally will reduce the
fund's distributions. However, if you meet certain holding period
requirements with respect to your fund shares, an offsetting tax
credit may be available to you. If you do not meet such holding period
requirements, you may still be entitled to a deduction for certain
foreign taxes. In either case, your tax statement will show more
taxable income or capital gains than were actually distributed by the
fund, but will also show the amount of the available offsetting credit
or deduction.
SUPPLEMENT TO THE FIDELITY PURITAN(registered trademark) FUND
SEPTEMBER 26, 1997
STATEMENT OF ADDITIONAL INFORMATION
THE FOLLOWING INFORMATION REPLACES SIMILAR INFORMATION FOUND IN THE
"DISTRIBUTIONS AND TAXES" SECTION BEGINNING ON PAGE 16.
CAPITAL GAIN DISTRIBUTIONS. Long-term capital gains earned by the fund
on the sale of securities and distributed to shareholders are
federally taxable as long-term capital gains, regardless of the length
of time shareholders have held their shares. If a shareholder receives
a capital gain distribution on shares of the fund, and such shares are
held six months or less and are sold at a loss, the portion of the
loss equal to the amount of the capital gain distribution will be
considered a long-term loss for tax purposes. Short-term capital gains
distributed by the fund are taxable to shareholders as dividends, not
as capital gains.
