Fund Description

The Fidelity Series Investment Grade Bond Fund normally invests at least 80% of it's assets in investment-grade debt securities (those of medium and high quality) of all types and repurchase agreements for those securities. The Fidelity Series Investment Grade Bond Fund is managed to have similar overall interest rate risk to the Barclays U.S. Aggregate Bond Index. The Fidelity Series Investment Grade Bond Fund allocates assets across different market sectors and maturities and invests in domestic and foreign issuers. The fund analyzes the credit quality of the issuer, security-specific features, current and potential future valuation, and trading opportunities to select investments. Potentially investing in lower-quality debt securities. The fund engages in transactions that have a leveraging effect on the fund, including investments in derivatives - such as swaps (interest rate, total return, and credit default), options, and futures contracts - and forward-settling securities, to adjust the fund's risk exposure. The fund also invests in Fidelity's central funds (specialized investment vehicles used by Fidelity funds to invest in particular security types or investment disciplines). - Description provided by Fidelity