Fidelity Advisor Funds Class M

Transcription

1 Fidelity Advisor Funds Class M JANUARY 31, 2018 Historical calendar year total returns (%) at NAV Current performance may be higher or lower than the performance data quoted. For month-end performance figures, please visit institutional.fidelity.com or call your investment professional. The performance data featured represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate; therefore you may have a gain or loss when you sell your shares. Total returns are historical and include change in share price and reinvestment of dividends and capital gains, if any. Class M shares have a 12b-1 fee and a maximum front-end sales charge of 3.50% for international equity, domestic equity, asset allocation and alternative asset funds (excluding FA Multi-Asset Income, FA Real Estate Income, and FA Strategic Real Return, which is 4.00%), and 4.00% for taxable income and municipal income funds (excluding FA Floating Rate High Income, FA Limited Term Bond, and FA Limited Term Municipal Income, which is 2.75%, and FA Short-Term Bond, which is 1.50%). Please see the disclosure pages for additional performance information. DOMESTIC EQUITY 2 Symbol Fund Inception YTD* FA Capital Development 3 FDTZX 12/30/ FA Convertible Securities 3,6,9,16,28, FTCVX 1/5/ FA Diversified Stock 3 FDTEX 7/10/ FA Dividend Growth 3 FDGTX 12/28/ FA Equity Growth 3,20 FAEGX 11/22/ FA Equity Income 3,6,10,16,28 FEIRX 4/25/ FA Equity Value 3,10 FAVTX 5/9/ FA Event Driven Opportunities 3,6,7,16,30 FJPDX 12/12/ FA Growth & Income 3,6,16,28 FGITX 12/31/ FA Growth Opportunities 3,20, FAGOX 11/18/ FA Large Cap 3 FALGX 2/20/ FA Leveraged Company Stock 3,6,16,19,28 FLSTX 12/27/ FA Mega Cap Stock 3,, FTGRX 12/28/ FA Mid Cap II 3,5 FITIX 8/12/ FA Mid Cap Value 3,5,10, FMPTX 11/15/ FA New Insights 3 FNITX 7/31/ FA Small Cap 3,5 FSCTX 9/9/ FA Small Cap Growth 3,5,7,20,51, FCTGX 11/3/ FA Small Cap Value 3,5,7,10,29, FCVTX 11/3/ FA Stock Selector All Cap 3,26,30, FSJHX 9/28/ FA Stock Selector Large Cap Value 3,10, FLUTX 11/15/ FA Stock Selector Mid Cap 3,5 FMCAX 2/20/ FA Stock Selector Small Cap 3,5, FCDTX 6/28/ FA Value 3,10 FTVFX 12/23/ FA Value Leaders 3,10 FVLTX 6/17/ FA Value Strategies 3,10, FASPX 12/31/ SECTOR/INDUSTRY FA Biotechnology 3,4,7,31 FBTTX 12/27/ FA Communications Equipment 3,4,7,32, FDMTX 12/27/ FA Consumer Discretionary 3,4,7,33, FACPX 9/3/ FA Consumer Staples 3,4,7,34,, FDTGX 7/29/ FA Energy 3,4,7,36, FAGNX 12/29/ FA Financial Services 3,4,37 FAFSX 9/3/ FA Health Care 3,4,38 FACTX 9/3/ FA Industrials 3,4,7,39, FCLTX 9/3/ FA Materials 3,4,7,40, FMFTX 9/29/ FA Semiconductors 3,4,7,35 FELTX 12/27/ FA Technology 3,4,7,41 FATEX 9/3/ FA Telecommunications 3,4,7,42, FTUTX 7/29/ FA Utilities 3,4,7,43, FAUFX 9/3/ INTERNATIONAL EQUITY 2,3 Symbol Fund Inception YTD* FA Canada 21, FTCNX 11/17/ FA China Region 21,, FHKTX 11/1/ FA Diversified International FADIX 12/17/ FA Emerging Asia 21 FEATX 3/25/ FA Emerging Europe, Middle East, Africa 7,21, FEMTX 5/8/ Not FDIC Insured May Lose Value No Bank Guarantee

2 Historical calendar year total returns (%) at NAV (Class M continued) INTERNATIONAL EQUITY (cont.) 2,3 Symbol Fund Inception YTD* FA Emerging Markets FTMKX 3/29/ FA Emerging Markets Discovery 5,7, FEDTX 11/1/ FA Europe 21, FHJVX 10/1/ FA Global Capital Appreciation FGETX 12/17/ FA Global Equity Income 6,16 FGABX 5/2/ FA International Capital Appreciation FIATX 11/3/ FA International Discovery, FTADX 12/31/ FA International Growth 20, FITGX 11/1/ FA International Small Cap 5,45, FTISX 9/18/ FA International Small Cap Opportunities 5, FOPTX 8/2/ FA International Value 10, FIVPX 5/18/ FA Japan 21, FJPTX 9/15/ FA Latin America 7,21, FLFTX 4/19/ FA Overseas FAERX 4/23/ FA Total Emerging Markets 6,16,28, FTEHX 11/1/ FA Total International Equity 5,10, FTTEX 11/1/ FA Worldwide 6, FWTFX 5/30/ TAXABLE INCOME 16,28 Symbol Fund Inception YTD* FA Corporate Bond 3,9, FCBTX 5/4/ FA Emerging Markets Income 2,3,6,7 FAEMX 3/10/ FA Floating Rate High Income 3,6,8,22 FFRTX 8/16/ FA Global Credit 3,6,7,9,47, FGBWX 5/22/ FA Global High Income 2,3,6, FGHTX 5/11/ FA Government Income 9, FVITX 4/4/ FA High Income 2,3,6 FHITX 9/7/ FA High Income Advantage 2,3,6 FAHYX 1/5/ FA Inflation-Protected Bond 3,9,14,24, FIPTX 6/26/ FA Investment Grade Bond 3,6,9, FGBTX 8/6/ FA Limited Term Bond 3,9, FTBRX 2/2/ FA Mortgage Securities 9 FMSAX 12/31/ FA Short Duration High Income 2,3,6,8, FSEHX 11/5/ FA Short-Term Bond 3,9, FBNTX 9/15/ FA Strategic Income 2,3,6,9 FSIAX 10/31/ FA Total Bond 3,6,9, FEPTX 10/15/ MUNICIPAL INCOME 15,16 Symbol Fund Inception YTD* FA California Municipal Income 7, FCMTX 7/7/ FA Intermediate Municipal Income FZITX 4/15/ FA Limited Term Municipal Income FTSHX 12/24/ FA Municipal Income 1 FAHIX 9/16/ FA New York Municipal Income 7, FNYPX 7/10/ ASSET ALLOCATION Symbol Fund Inception YTD* FA Asset Manager 20% 2,3,6,9,16,28, FTDWX 10/1/ FA Asset Manager 30% 2,3,6,9,16,28, FTTNX 10/9/ FA Asset Manager 40% 2,3,6,9,16,28, FFNTX 10/9/ FA Asset Manager 50% 2,3,6,9,16,28, FFTMX 12/28/ FA Asset Manager 60% 2,3,6,9,16,28, FSATX 10/9/ FA Asset Manager 70% 2,3,6,9,16,28, FTASX 12/30/ FA Asset Manager 85% 2,3,6,9,16,28, FEYTX 9/24/ FA Balanced 2,3,6,9,16,28 FAIGX 1/6/ FA Freedom FFTVX 11/6/ FA Freedom FCFTX 7/24/ FA Freedom FFVTX 11/6/ FA Freedom FDTFX 7/24/ FA Freedom FTTWX 11/6/ FA Freedom FTFEX 7/24/ FA Freedom FTTHX 11/6/

3 Historical calendar year total returns (%) at NAV (Class M continued) ASSET ALLOCATION (cont.) Symbol Fund Inception YTD* FA Freedom FTFFX 7/24/ FA Freedom FFFTX 6/1/ FA Freedom FFFQX 6/1/ FA Freedom FHFTX 6/1/ FA Freedom FDKTX 8/5/ FA Freedom Income 11,16,28 FTAFX 7/24/ FA Global Balanced 2,3,16,28,50, FGLTX 2/1/ FA Global Strategies 18,50, FDTSX 10/31/ FA Managed Retirement ,48, FIOTX 8/30/ FA Managed Retirement ,48, FRQTX 8/30/ FA Managed Retirement ,48, FTRSX 8/30/ FA Managed Retirement ,48, FTRVX 12/31/ FA Managed Retirement ,48, FITTX 12/31/ FA Managed Retirement Income 17,48, FRTMX 8/30/ FA Multi-Asset Income 2,3,6,8,16,18,22 FAZYX 9/9/ FA Simplicity RMD ,49, FTRPX 8/30/ FA Simplicity RMD ,49, FTIRX 8/30/ FA Simplicity RMD ,49, FURTX 8/30/ FA Simplicity RMD ,49, FTRWX 12/31/ FA Simplicity RMD Income 44,49, FRNTX 8/30/ FA Strategic Dividend & Income 2,3,6,10,12,16,28, FTSDX 12/23/ ALTERNATIVE ASSET 2,3 Symbol Fund Inception YTD* FA Global Commodity Stock 7,25, FFGTX 3/25/ FA Global Real Estate 12,46 FWRTX 8/11/ FA Gold 4,7, FGDTX 12/16/ FA International Real Estate 7,12, FIRTX 9/8/ FA Real Estate 7,12 FHETX 9/12/ FA Real Estate Income 6,12,16,28, FRIQX 2/4/ FA Strategic Real Return 6,8,12,13,14,16,22,28, FSRTX 9/7/ * YTD returns are cumulative returns. Cumulative and annualized total returns (%) Class M Cumulative total returns at POP (12/31/17) Expense ratios (%) Net assets (1/31/18) DOMESTIC EQUITY 2 YTD 1-Mo 3-Mo 1-Yr 3-Yr 5-Yr 10-Yr LOF^ 1-Yr 5-Yr 10-Yr LOF^ Gross Net ($M) FA Capital Development FA Convertible Securities 3,6,9,16,28, FA Diversified Stock FA Dividend Growth FA Equity Growth 3, , FA Equity Income 3,6,10,16, FA Equity Value 3, FA Event Driven Opportunities 3,6,7,16, NA NA NA NA FA Growth & Income 3,6,16, FA Growth Opportunities 3,20, , FA Large Cap FA Leveraged Company Stock 3,6,16,19, FA Mega Cap Stock 3,, FA Mid Cap II 3, FA Mid Cap Value 3,5,10, FA New Insights , FA Small Cap 3, FA Small Cap Growth 3,5,7,20,51, FA Small Cap Value 3,5,7,10,29, FA Stock Selector All Cap 3,26,30,

4 Cumulative and annualized total returns (%) (Class M continued) Cumulative total returns at POP (12/31/17) Expense ratios (%) Net assets (1/31/18) DOMESTIC EQUITY (cont.) 2 YTD 1-Mo 3-Mo 1-Yr 3-Yr 5-Yr 10-Yr LOF^ 1-Yr 5-Yr 10-Yr LOF^ Gross Net ($M) FA Stock Selector Large Cap Value 3,10, FA Stock Selector Mid Cap 3, FA Stock Selector Small Cap 3,5, FA Value 3, FA Value Leaders 3, FA Value Strategies 3,10, SECTOR/INDUSTRY FA Biotechnology 3,4,7, FA Communications Equipment 3,4,7,32, FA Consumer Discretionary 3,4,7,33, FA Consumer Staples 3,4,7,34,, FA Energy 3,4,7,36, FA Financial Services 3,4, FA Health Care 3,4, FA Industrials 3,4,7,39, FA Materials 3,4,7,40, FA Semiconductors 3,4,7, FA Technology 3,4,7, FA Telecommunications 3,4,7,42, FA Utilities 3,4,7,43, INTERNATIONAL EQUITY 2,3 YTD 1-Mo 3-Mo 1-Yr 3-Yr 5-Yr 10-Yr LOF^ 1-Yr 5-Yr 10-Yr LOF^ Gross Net ($M) FA Canada 21, FA China Region 21,, FA Diversified International FA Emerging Asia FA Emerging Europe, Middle East, Africa 7,21, NA NA FA Emerging Markets FA Emerging Markets Discovery 5,7, NA NA FA Europe 21, FA Global Capital Appreciation FA Global Equity Income 6, NA NA FA International Capital Appreciation FA International Discovery, FA International Growth 20, FA International Small Cap 5,45, FA International Small Cap Opportunities 5, FA International Value 10, FA Japan 21, FA Latin America 7,21, FA Overseas FA Total Emerging Markets 6,16,28, NA NA FA Total International Equity 5,10, FA Worldwide 6, TAXABLE INCOME 16,28 YTD 1-Mo 3-Mo 1-Yr 3-Yr 5-Yr 10-Yr LOF^ 1-Yr 5-Yr 10-Yr LOF^ Gross Net ($M) FA Corporate Bond 3,9, NA NA FA Emerging Markets Income 2,3,6, FA Floating Rate High Income 3,6,8, FA Global Credit 3,6,7,9,47, NA NA FA Global High Income 2,3,6, NA NA FA Government Income 9, FA High Income 2,3, FA High Income Advantage 2,3, FA Inflation-Protected Bond 3,9,14,24, FA Investment Grade Bond 3,6,9, FA Limited Term Bond 3,9, FA Mortgage Securities FA Short Duration High Income 2,3,6,8, NA NA NA NA

5 Cumulative and annualized total returns (%) (Class M continued) Cumulative total returns at POP (12/31/17) Expense ratios (%) Net assets (1/31/18) TAXABLE INCOME (cont.) 16,28 YTD 1-Mo 3-Mo 1-Yr 3-Yr 5-Yr 10-Yr LOF^ 1-Yr 5-Yr 10-Yr LOF^ Gross Net ($M) FA Short-Term Bond 3,9, FA Strategic Income 2,3,6, FA Total Bond 3,6,9, MUNICIPAL INCOME 9,15,16,23,27 YTD 1-Mo 3-Mo 1-Yr 3-Yr 5-Yr 10-Yr LOF^ 1-Yr 5-Yr 10-Yr LOF^ Gross Net ($M) FA California Municipal Income 7, FA Intermediate Municipal Income FA Limited Term Municipal Income FA Municipal Income FA New York Municipal Income 7, ASSET ALLOCATION YTD 1-Mo 3-Mo 1-Yr 3-Yr 5-Yr 10-Yr LOF^ 1-Yr 5-Yr 10-Yr LOF^ Gross Net ($M) FA Asset Manager 20% 2,3,6,9,16,28, FA Asset Manager 30% 2,3,6,9,16,28, FA Asset Manager 40% 2,3,6,9,16,28, FA Asset Manager 50% 2,3,6,9,16,28, FA Asset Manager 60% 2,3,6,9,16,28, FA Asset Manager 70% 2,3,6,9,16,28, FA Asset Manager 85% 2,3,6,9,16,28, FA Balanced 2,3,6,9,16, , FA Freedom FA Freedom FA Freedom FA Freedom FA Freedom FA Freedom FA Freedom FA Freedom FA Freedom FA Freedom FA Freedom NA NA FA Freedom NA NA NA NA FA Freedom Income 11,16, FA Global Balanced 2,3,16,28,50, FA Global Strategies 18,50, FA Managed Retirement ,48, FA Managed Retirement ,48, FA Managed Retirement ,48, FA Managed Retirement ,48, FA Managed Retirement ,48, FA Managed Retirement Income 17,48, FA Multi-Asset Income 2,3,6,8,16,18, NA NA NA NA NA FA Simplicity RMD ,49, FA Simplicity RMD ,49, FA Simplicity RMD ,49, FA Simplicity RMD ,49, FA Simplicity RMD Income 44,49, FA Strategic Dividend & Income 2,3,6,10,12,16,28, ALTERNATIVE ASSET 2,3 YTD 1-Mo 3-Mo 1-Yr 3-Yr 5-Yr 10-Yr LOF^ 1-Yr 5-Yr 10-Yr LOF^ Gross Net ($M) FA Global Commodity Stock 7,25, NA NA FA Global Real Estate 12, NA NA NA NA NA FA Gold 4,7, FA International Real Estate 7,12, FA Real Estate 7, FA Real Estate Income 6,12,16,28, FA Strategic Real Return 6,8,12,13,14,16,22,28,

6 Public Offering Price (POP) returns include the effects of the maximum sales charge, NAV returns do not. If sales charges were included, performance would be lower. ^ Life of fund (LOF) returns are from the fund s inception to indicated month-end. For funds that have been in existence less than one year, LOF returns reflect cumulative returns since the fund s inception. Gross Expense Ratio is the total annual fund or class operating expense ratio from the most recent prospectus (before waivers or reimbursements) and generally is based on amounts incurred during the most recent fiscal year. Net Expense Ratio is the total annual fund or class operating expense ratio from the most recent prospectus, after any fee waiver and/or expense reimbursements that will reduce any fund operating expenses for no less than one year from the effective date of the fund's registration statement. This number does not include any fee waiver arrangement or expense reimbursement that may be terminated without agreement of the fund's board of trustees during the one-year period. The class is a class of its Fidelity retail fund. Prior to 6/1/11, 2/1/07, 9/1/00, and 7/1/99, respectively, FA Global Strategies, FA Growth Opportunities, FA China Region, and FA Value Strategies operated under certain different investment policies and compared their performance to different benchmarks. Prior to 10/1/04 and 12/1/07, FA International Discovery and FA Mega Cap Stock respectively, operated under certain different investment policies. These funds historical performance may not represent their current investment policies. Prior to 10/1/06 (and prior to 10/30/13 for FA Limited Term Bond), FA Communications Equipment, FA Consumer Discretionary, FA Consumer Staples, FA Energy, FA Industrials, FA Limited Term Bond, FA Materials, and FA Utilities operated under certain different investment policies and compared their performance to different secondary benchmarks. The funds historical performance may not represent their current investment policies. 1. On or about 3/2/18, FA Municipal Income Fund Class M will merge into launching Advisor Class M of Fidelity Municipal Income Fund. 2. Stock markets, especially foreign markets, are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. 3. Foreign securities are subject to interest rate, currency exchange rate, economic, and political risks, all of which are magnified in emerging markets. 4. Sector funds can be more volatile because of their narrow concentration in a specific industry. 5. The securities of smaller, less well-known companies can be more volatile than those of larger companies. 6. Lower-quality bonds can be more volatile and have greater risk of default than higher-quality bonds. 7. The fund may have additional volatility because it can invest a significant portion of assets in securities of a small number of individual issuers. 8. Floating rate loans may not be fully collateralized and therefore may decline significantly in value. 9. The fund can invest in securities that may have a leveraging effect (such as derivatives and forward-settling securities) that may increase market exposure, magnify investment risks, and cause losses to be realized more quickly. 10. Value stocks can perform differently than other types of stocks and can continue to be undervalued by the market for long periods of time. 11. The investment risks of each Fidelity Advisor Freedom Fund change over time as the fund s asset allocation changes. The funds are subject to the volatility of the financial markets, including equity and fixed income investments in the U.S. and abroad, and may be subject to risks associated with investing in high-yield, small cap, commodity-linked, and foreign securities. Principal invested is not guaranteed at any time, including at or after the target dates. 12. Changes in real estate values or economic downturns can have a significant negative effect on issuers in the real estate industry. 13. Commodity-linked investments may be more volatile and less liquid than the underlying instruments or measures, and their value may be affected by the performance of the overall commodities baskets as well as weather, disease, and regulatory developments. 14. Increases in real interest rates can cause the price of inflation-protected debt securities to decrease. 15. The municipal market is volatile and can be significantly affected by adverse tax, legislative, or political changes and the financial condition of the issuers of municipal securities. 16. In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation, credit, and default risks for both issuers and counterparties. 17. Classes A, C, M, and I of FA Managed Retirement Funds (2005, 2010, 2015, 2020, 2025, and Income) are longer available for purchase except through the reinvestment of dividends and other distributions. Consult the Prospectus for more details. 18. The fund is subject to asset allocation risk and the risks of the underlying funds in which it invests. Those risks include the volatility of the financial markets in the U.S. and abroad, risks associated with investing in particular countries or regions, or industries or groups of industries, and risks associated with investments in debt securities. If the fund s asset allocation strategy does not work as intended, the fund may not achieve its objective. 19. Leverage can magnify the impact of adverse issuer, political, regulatory, market, or economic developments on a company. In the event of bankruptcy, a company s creditors take precedence over the company s stockholders. Although the companies that the fund invests in may be highly leveraged, the fund itself does not use leverage as an investment strategy. 20. Growth stocks can perform differently from other types of stocks and the market as a whole and can be more volatile than other types of stocks. 21. The risks are particularly significant for funds that focus on a single country or region. 22. Floating rate loans generally are subject to restrictions on resale and sometimes trade infrequently in the secondary market; as a result they may be more difficult to value, buy, or sell. 23. Income exempt from federal income tax may be subject to state or local tax. All or a portion of the fund s income may be subject to the federal alternative minimum tax. Income or fund distributions attributable to capital gains are usually subject to both state and federal income tax. 24. The fund is closed to new accounts with certain exceptions. Consult the prospectus for more details. 25. The commodities industries can be significantly affected by commodity prices, world events, import controls, worldwide competition, government regulations, and economic conditions. 26. While the fund is diversified, the underlying sector central funds may be volatile because of their narrow concentration in specific industries. 27. Changes in government regulation and interest rates and economic downturns can have a significant negative effect on issuers in the financial services sector. 28. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible. 29. The fund is closed to new accounts with certain exceptions. Consult the prospectus for more details. 30. The value of securities in companies involved in a special situation event can perform differently from the market as a whole and other types of stocks, and can be more volatile than that of other issuers. 31. The biotechnology industry can be significantly affected by patent considerations, intense competition, rapid technological change and obsolescence, and government regulation. 32. The communications equipment industry can be significantly affected by failure to obtain, or delays in obtaining, financing or regulatory approval, intense competition, product compatibility, consumer preferences, corporate capital expenditures, and rapid obsolescence. 33. The consumer discretionary industries can be significantly affected by the performance of the overall economy, interest rates, competition, consumer confidence and spending, and changes in demographics and consumer tastes. 34. The consumer staples industries can be significantly affected by demographic and product trends, competitive pricing, food fads, marketing campaigns, environmental factors, government regulation, the performance of the overall economy, interest rates, and consumer confidence.

7 35. The electronics industry can be significantly affected by rapid obsolescence, intense competition, and global demand. 36. The energy industries can be significantly affected by fluctuations in energy prices and supply and demand of energy fuels, energy conservation, the success of exploration projects, and tax and other government regulations. 37. The financials industries are subject to extensive government regulation, can be subject to relatively rapid change due to increasingly blurred distinctions between service segments, and can be significantly affected by availability and cost of capital funds, changes in interest rates, the rate of corporate and consumer debt defaults, and price competition. 38. The health care industries are subject to government regulation and reimbursement rates, as well as government approval of products and services, which could have a significant effect on price and availability, and can be significantly affected by rapid obsolescence and patent expirations. 39. Industrials industries can be significantly affected by general economic trends, changes in consumer sentiment and spending, commodity prices, legislation, government regulation and spending, import controls, and worldwide competition, and can be subject to liability for environmental damage, depletion of resources, and mandated expenditures for safety and pollution control. 40. The materials industries can be significantly affected by the level and volatility of commodity prices, the exchange value of the dollar, import controls, worldwide competition, liability for environmental damage, depletion of resources, and mandated expenditures for safety and pollution control. 41. The technology industries can be significantly affected by obsolescence of existing technology, short product cycles, falling prices and profits, competition from new market entrants, and general economic conditions. 42. The telecom services industries are subject to government regulation of rates of return and services that may be offered and can be significantly affected by intense competition. 43. The utilities industries can be significantly affected by government regulation, financing difficulties, supply and demand of services or fuel, and natural resource conservation. 44. Classes A, C, M, and I of FA Simplicity RMD Funds (2005, 2010, 2015, 2020, and Income) are longer available for purchase except through the reinvestment of dividends and other distributions. Consult the Prospectus for more details. 45. Prior to 4/1/14, FA International Small Cap compared its performance to a different benchmark. The fund s historical performance may not represent its current investment policies. 46. Because the fund concentrates its investments in a particular industry, the fund s performance could depend heavily on the performance of that industry and could be more volatile than the performance of less concentrated funds. 47. Effective 6/1/17, FA Global Bond Fund was renamed FA Global Credit Fund, and began operating under certain different investment policies and comparing its performance to a different benchmark. Consult the prospectus for more details. 48. Effective 6/1/17, the following funds changed their names from FA Income Replacement 2022, FA Income Replacement 2026, FA Income Replacement 2030, FA Income Replacement 2034, FA Income Replacement 2038, and FA Income Replacement 2042 to FA Managed Retirement Income, FA Managed Retirement 2005, FA Managed Retirement 2010, FA Managed Retirement 2015, FA Managed Retirement 2020, and FA Managed Retirement 2025, respectively. In addition, each fund began operating under certain different investment policies. The fund s historical performance may not represent its current investment policies. 49. Effective 6/1/17, the following funds changed their names from FA Income Replacement 2024, FA Income Replacement 2028, FA Income Replacement 2032, FA Income Replacement 2036, and FA Income Replacement 2040 to FA Simplicity RMD Income, FA Simplicity RMD 2005, FA Simplicity RMD 2010, FA Simplicity RMD 2015, and FA Simplicity RMD In addition, each fund began operating under certain different investment policies. The fund s historical performance may not represent its current investment policies. 50. The fund is closed to new accounts with certain exceptions. Consult the prospectus for more details. 51. Effective at close of business on 2/2/18, FA Small Cap Growth closed to new investors. Consult the prospectus for more details. Additional Performance Information: Initial offering of Class M shares for FA Equity Growth, FA Equity Income, and FA Limited Term Bond was on 9/10/92. Prior returns are those of Class I. Initial offering of Class M shares for FA Asset Manager 20% (10/2/06), FA Asset Manager 50% (10/2/06), FA Asset Manager 70% (9/23/08), FA Asset Manager 85% (10/2/06), FA California Municipal Income (8/1/02), FA Canada (5/2/07), FA China Region (5/9/08), FA Consumer Staples (12/12/06), FA Convertible Securities (2/19/09), FA Europe (3/18/14), FA Global Balanced (2/19/09), FA Gold (12/12/06), FA Government Income (10/24/06), FA Inflation-Protected Bond (10/2/02), FA Intermediate Municipal Income (10/31/05), FA International Discovery (1/6/05), FA International Real Estate (4/4/07), FA International Small Cap (5/27/03), FA Investment Grade Bond (8/27/02), FA Japan (12/14/10), FA Latin America (9/28/10), FA Limited Term Municipal Income (7/23/03), FA Materials (12/12/06), FA Mega Cap Stock (2/5/08), FA Mid Cap Value (2/13/07), FA Mortgage Securities (3/3/97), FA New York Municipal Income (8/1/02), FA Real Estate Income (4/14/10), FA Stock Selector All Cap (10/23/12), FA Stock Selector Large Cap Value (2/13/07), FA Short-Term Bond (7/12/16), FA Stock Selector Small Cap (5/2/07), FA Telecommunications (12/12/06), FA Total Bond (6/16/04), and FA Worldwide (2/19/09) was on each date listed. Returns prior to each date listed are those of each fund s respective retail class. Initial offering of Class M shares for FA Emerging Asia was on 6/15/99. Returns prior to 6/15/99 reflect the performance of the fund as a closed-end fund. Initial offering of Class M shares for FA Capital Development and FA Diversified Stock was on 7/12/05. Returns prior to 7/12/05 through 4/30/99 are those of Class A. Returns prior to 4/30/99 are those of Class O. Had Class M s 12b-1 fee been reflected, returns would have been lower. Trademarks and service marks are the property of FMR LLC or an affiliated company. Unless otherwise disclosed to you, in providing this information, Fidelity is not undertaking to provide impartial investment advice, act as an impartial adviser, or to give advice in a fiduciary capacity. Not NCUA or NCUSIF insured. May lose value. No credit union guarantee. Before investing, consider the funds investment objectives, risks, charges, and expenses. Contact your investment professional or visit institutional.fidelity.com for a prospectus, or a summary prospectus if available, containing this information. Read it carefully Fidelity Investments Institutional Services Company, Inc FIAM-BD 500 Salem Street, Smithfield, RI