Fund Description

The fund was incepted in December 1988 and is managed by the Fidelity Group. This domestic hybrid fund's main objective is to seek high total return with reduced risk over the long term by allocating its assets among stocks, bonds, and short-term instruments. The management allocates the fund's assets among stocks, bonds, and short-term and money market investments. The management may invest the fund's assets in securities of foreign issuers in addition to securities of domestic issuers. The fund's investments will normally fluctuate around a neutral mix of 50% of assets in stocks (can range from 30-70%), 40% of assets in bonds (can range from 20-60%), and 10% of assets in short-term/money market instruments (can range from 0-50%). The fund allocations are regularly reviewed and changes are made gradually to favor investments that it believes will provide the most favorable outlook for achieving the fund's objective. The fund offers dividends quarterly in March, June, September and December. Capital gains, if any, are distributed in December.