Fund Description

The fund normally invests at least 80% of assets in a combination of equity securities that pay current dividends and income-producing equity securities, including common and preferred stocks, convertible securities, rights and warrants, and other equity-like securities such as hybrid and trust preferred securities. It allocates assets among common stocks, REITs and other real estate related investments, convertible securities, and preferred stocks, using a neutral mix of about 50%, 15%, 15%, and 20%, respectively. It may use derivatives included in the 80% policy, invest in domestic and foreign issuers, and may also invest in other equity and debt securities, including lower-quality debt. Security selection uses fundamental analysis and may include Fidelity Central funds.