Fund Description

The fund normally invests primarily in common stocks, with at least 80% of assets in securities of companies with small market capitalizations, generally defined as those similar to companies in the Russell 2000 Index or the S&P SmallCap 600 Index. It invests in domestic and foreign issuers and allocates assets across market sectors using different Fidelity managers. The fund may invest in growth stocks, value stocks, or both, and uses fundamental analysis of issuers' financial condition and industry position, along with market and economic conditions, to select investments.