Fund Description

Fidelity group Funds incepted the Fidelity Select Developing Communication Portfolio in June 1990. The objective of the fund is to seek capital appreciation and to invests at least 80% of assets in common stocks of companies principally engaged in the development, manufacture, or sale of emerging communications as well as in those companies that provide services and equipment. The fund offers a dividend and capital gains twice a year in April and December. In buying and selling securities the fund relies on fundamental analysis of each issuer and its potential for success in light of its current financial condition, its industry position, and economic and market conditions.