Fund Description

Fidelity Select Industrial Equipment was incepted in September 1986 and is managed by the Fidelity Group. The objective of this fund is to seek capital appreciation. The fund normally invests at least 80% of assets in common stocks of companies principally engaged in the manufacture, distribution, or service of products and equipment for the industrial sector, including integrated producers of capital equipment, farm equipment, and computers, parts suppliers, and subcontractors. The fund offers dividends and capital gains twice a year in April and December.