Fund Overview

Adviser:

Fidelity Management & Research Company

Subadviser:

FRM Co., Inc.

Objective/Focus:

Normally invests primarily in common stocks. Seeks long-term capital appreciation.

Asset Class:

Large-Cap Stocks

Style:

Blend

Stocks of smaller or newer companies, such as those held in this Fund, are more likely to realize more substantial growth as well as suffer more significant losses than larger or more established issuers. Investments in such companies can be both more volatile and more speculative.

Investing in small company stocks involves a greater degree of risk than investing in medium or large company stocks. Their securities may also trade less frequently and in lower volumes, making market prices more volatile.