Fund Description

The fund normally invests at least 80% of assets in equity securities, primarily common stocks, including depositary receipts, preferred stocks and other preferred securities, convertible securities, rights and warrants, and other equity-like securities such as hybrid securities and trust preferred securities. Derivatives that provide exposure to these investments or related market risk factors are included in the 80% policy. It invests in domestic and foreign issuers and allocates the fund's assets across different market sectors using different Fidelity managers. It may invest in growth and/or value stocks selected through fundamental analysis of issuers, market, and economic conditions.