0000878467-15-000420.txt : 20150601 0000878467-15-000420.hdr.sgml : 20150601 20150601125836 ACCESSION NUMBER: 0000878467-15-000420 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20150601 DATE AS OF CHANGE: 20150601 EFFECTIVENESS DATE: 20150601 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIDELITY ADVISOR SERIES I CENTRAL INDEX KEY: 0000722574 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-84776 FILM NUMBER: 15902363 BUSINESS ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 BUSINESS PHONE: 617-563-7000 MAIL ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 FORMER COMPANY: FORMER CONFORMED NAME: FIDELITY ADVISOR SERIES 1 DATE OF NAME CHANGE: 19930706 FORMER COMPANY: FORMER CONFORMED NAME: FIDELITY BROAD STREET TRUST DATE OF NAME CHANGE: 19920820 FORMER COMPANY: FORMER CONFORMED NAME: FIDELITY ADVISOR EQUITY PORTFOLIO GROWTH DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIDELITY CONTRAFUND CENTRAL INDEX KEY: 0000024238 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-25235 FILM NUMBER: 15902364 BUSINESS ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 BUSINESS PHONE: 617-563-7000 MAIL ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 FORMER COMPANY: FORMER CONFORMED NAME: FIDELITY CONTRAFUND INC DATE OF NAME CHANGE: 19850618 FORMER COMPANY: FORMER CONFORMED NAME: CONTRAFUND INC DATE OF NAME CHANGE: 19810203 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIDELITY FINANCIAL TRUST CENTRAL INDEX KEY: 0000708191 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-79910 FILM NUMBER: 15902365 BUSINESS ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 BUSINESS PHONE: 617-563-7000 MAIL ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 FORMER COMPANY: FORMER CONFORMED NAME: FIDELITY FREEDOM FUND DATE OF NAME CHANGE: 19870129 FORMER COMPANY: FORMER CONFORMED NAME: FIDELITY TAX QUALIFIED EQUITY FUND DATE OF NAME CHANGE: 19830104 0000024238 S000006036 Fidelity Advisor New Insights Fund C000130145 Class Z FZANX 0000708191 S000006969 Fidelity Convertible Securities Fund C000074867 Fidelity Advisor Convertible Securities Fund: Class A FACVX C000074868 Fidelity Advisor Convertible Securities Fund: Class B FCBVX C000074869 Fidelity Advisor Convertible Securities Fund: Class C FCCVX C000074870 Fidelity Advisor Convertible Securities Fund: Class T FTCVX C000074871 Fidelity Advisor Convertible Securities Fund: Institutional Class FICVX 0000722574 S000005111 Fidelity Advisor Growth Opportunities Fund C000013936 Class A FAGAX C000013937 Class B FABGX C000013938 Class C FACGX C000013939 Class T FAGOX C000013940 Institutional Class FAGCX 0000722574 S000005112 Fidelity Advisor Large Cap Fund C000013941 Class A FALAX C000013942 Class B FALHX C000013943 Class C FLCCX C000013944 Class T FALGX C000013945 Institutional Class FALIX 0000722574 S000005113 Fidelity Advisor Leveraged Company Stock Fund C000013946 Class A FLSAX C000013947 Class B FLCBX C000013948 Class C FLSCX C000013949 Class T FLSTX C000013950 Institutional Class FLVIX 0000722574 S000005114 Fidelity Advisor Stock Selector Mid Cap Fund C000013951 Class A FMCDX C000013952 Class B FMCBX C000013953 Class C FMCEX C000013954 Class T FMCAX C000013955 Institutional Class FMCCX 0000722574 S000005115 Fidelity Advisor Small Cap Fund C000013956 Class A FSCDX C000013957 Class B FSCBX C000013958 Class C FSCEX C000013959 Class T FSCTX C000013960 Institutional Class FSCIX 0000722574 S000005117 Fidelity Advisor Value Strategies C000013966 Class A FSOAX C000013967 Class B FASBX C000013968 Class C FVCSX C000013969 Class T FASPX C000013970 Institutional Class FASOX 0000722574 S000005118 Fidelity Advisor Balanced Fund C000013971 Class A FABLX C000013972 Class B FAISX C000013973 Class C FABCX C000013974 Class T FAIGX C000013975 Institutional Class FAIOX 0000722574 S000005119 Fidelity Advisor Dividend Growth Fund C000013976 Class A FADAX C000013977 Class B FADBX C000013978 Class C FDGCX C000013979 Class T FDGTX C000013980 Institutional Class FDGIX 0000722574 S000005121 Fidelity Advisor Equity Growth Fund C000013986 Class A EPGAX C000013987 Class B EPGBX C000013988 Class C EPGCX C000013989 Class T FAEGX C000013990 Institutional Class EQPGX 0000722574 S000005122 Fidelity Advisor Equity Income Fund C000013991 Class A FEIAX C000013992 Class B FEIBX C000013993 Class C FEICX C000013994 Class T FEIRX C000013995 Institutional Class EQPIX 0000722574 S000005123 Fidelity Advisor Equity Value Fund C000013996 Class A FAVAX C000013997 Class B FAVBX C000013998 Class C FAVCX C000013999 Class T FAVTX C000014000 Institutional Class FAIVX 0000722574 S000005125 Fidelity Advisor Growth & Income Fund C000014006 Class A FGIRX C000014007 Class B FGISX C000014008 Class C FGIUX C000014009 Class T FGITX C000014010 Institutional Class FGIOX 0000722574 S000017683 Fidelity Advisor Floating Rate High Income Fund C000048858 Class A FFRAX C000048859 Class B FFRBX C000048860 Class C FFRCX C000048861 Class T FFRTX C000048862 Institutional Class FFRIX 0000722574 S000017684 Fidelity Advisor High Income Advantage Fund C000048864 Class T FAHYX C000048865 Institutional Class FAHCX C000048866 Class A FAHDX C000048867 Class B FAHBX C000048868 Class C FAHEX 0000722574 S000017685 Fidelity Advisor High Income Fund C000048869 Class A FHIAX C000048870 Class B FHCBX C000048871 Class C FHNCX C000048872 Class T FHITX C000048873 Institutional Class FHNIX 0000722574 S000017686 Fidelity Advisor Mid Cap II Fund C000048878 Institutional Class FIIMX C000130154 Class Z FZAMX 0000722574 S000017687 Fidelity Advisor Value Fund C000048879 Class A FAVFX C000048880 Class B FBVFX C000048881 Class C FCVFX C000048882 Class T FTVFX C000048883 Institutional Class FVIFX 497 1 main.htm

Supplement to the

Fund

Class A

Class T

Class B

Class C

Institutional
Class

Fidelity Advisor® Floating Rate High Income Fund

FFRAX

FFRTX

FFRBX

FFRCX

FFRIX

Fidelity Advisor High Income Fund

FHIAX

FHITX

FHCBX

FHNCX

FHNIX

Fidelity Advisor High Income Advantage Fund

FAHDX

FAHYX

FAHBX

FAHEX

FAHCX

Fidelity Advisor Value Fund

FAVFX

FTVFX

FBVFX

FCVFX

FVIFX

Funds of Fidelity Advisor Series I

STATEMENT OF ADDITIONAL INFORMATION

December 30, 2014

Effective July 1, 2015, Institutional Class will be renamed Class I. The features and policies of the class will not change. 

ACOM10B-15-01		June 1, 2015
1.734041.153

Supplement to the

Fund

Class A

Class T

Class B

Class C

Institutional
Class

Fidelity Advisor® Convertible Securities Fund

FACVX

FTCVX

FCBVX

FCCVX

FICVX

Fidelity Advisor Dividend Growth Fund

FADAX

FDGTX

FADBX

FDGCX

FDGIX

Fidelity Advisor Equity Growth Fund

EPGAX

FAEGX

EPGBX

EPGCX

EQPGX

Fidelity Advisor Equity Income Fund

FEIAX

FEIRX

FEIBX

FEICX

EQPIX

Fidelity Advisor Equity Value Fund

FAVAX

FAVTX

FAVBX

FAVCX

FAIVX

Fidelity Advisor Growth & Income Fund

FGIRX

FGITX

FGISX

FGIUX

FGIOX

Fidelity Advisor Growth Opportunities Fund

FAGAX

FAGOX

FABGX

FACGX

FAGCX

Fidelity Advisor Large Cap Fund

FALAX

FALGX

FALHX

FLCCX

FALIX

Fidelity Advisor Small Cap Fund

FSCDX

FSCTX

FSCBX

FSCEX

FSCIX

Fidelity Advisor Stock Selector Mid Cap Fund

FMCDX

FMCAX

FMCBX

FMCEX

FMCCX

Fidelity Advisor Value Strategies Fund

FSOAX

FASPX

FASBX

FVCSX

FASOX

Fidelity Advisor Convertible Securities Fund Fund Class A, Class T, Class B, Class C, and Institutional Class are
Classes of shares of Fidelity® Convertible Securities Fund
Funds of Fidelity Advisor Series I and Fidelity Financial Trust

STATEMENT OF ADDITIONAL INFORMATION

January 29, 2015

Effective July 1, 2015, Institutional Class will be renamed Class I. The features and policies of the class will not change.

Steven Wymer no longer serves as a co-manager of Fidelity Advisor Growth Opportunities Fund. Gopal Reddy serves as portfolio manager of Fidelity Advisor Growth Opportunities Fund

The following information replaces similar information found in the "Description of the Trusts" section on page 81.

Custodians. Brown Brothers Harriman & Co., 50 Post Office Square, Boston, Massachusetts, is custodian of the assets of Fidelity Advisor Large Cap Fund, Fidelity Advisor Stock Selector Mid Cap Fund, and Fidelity Advisor Value Strategies Fund. State Street Bank and Trust Company, 1776 Heritage Drive, Quincy, Massachusetts, is custodian of the assets of Fidelity Advisor Dividend Growth Fund, Fidelity Advisor Equity Value Fund, and Fidelity Advisor Small Cap Fund. JPMorgan Chase Bank, 270 Park Avenue, New York, New York, is custodian of the assets of Fidelity Advisor Equity Growth Fund, Fidelity Advisor Equity Income Fund, and Fidelity Advisor Growth & Income Fund. The Bank of New York Mellon, 1 Wall Street, New York, New York, is custodian of the assets of Fidelity Advisor Growth Opportunities Fund. The Northern Trust Company, 50 South LaSalle Street, Chicago, Illinois, is custodian of the assets of Fidelity Convertible Securities Fund. Each custodian is responsible for the safekeeping of a fund's assets and the appointment of any subcustodian banks and clearing agencies. JPMorgan Chase Bank, headquartered in New York, also may serve as a special purpose custodian of certain assets of Fidelity Advisor Dividend Growth Fund, Fidelity Advisor Equity Value Fund, Fidelity Advisor Growth Opportunities Fund, Fidelity Advisor Large Cap Fund, Fidelity Advisor Small Cap Fund, Fidelity Advisor Stock Selector Mid Cap Fund, Fidelity Advisor Value Strategies Fund, and Fidelity Convertible Securities Fund in connection with repurchase agreement transactions. The Bank of New York Mellon, headquartered in New York, also may serve as a special purpose custodian of certain assets of Fidelity Advisor Dividend Growth Fund, Fidelity Advisor Equity Growth Fund, Fidelity Advisor Equity Income Fund, Fidelity Advisor Equity Value Fund, Fidelity Advisor Growth & Income Fund, Fidelity Advisor Large Cap Fund, Fidelity Advisor Small Cap Fund, Fidelity Advisor Stock Selector Mid Cap Fund, Fidelity Advisor Value Strategies Fund, and Fidelity Convertible Securities Fund in connection with repurchase agreement transactions. From time to time, subject to approval by a fund's Treasurer, each fund may enter into escrow arrangements with other banks if necessary to participate in certain investment offerings. 

ACOM11B-15-02		June 1, 2015
1.739097.155

Supplement to the

Fidelity Advisor® Balanced Fund
Class A (FABLX), Class T (FAIGX), Class B (FAISX), Class C (FABCX), and Institutional Class (FAIOX)

A Fund of Fidelity Advisor Series I

STATEMENT OF ADDITIONAL INFORMATION

October 30, 2014

Effective July 1, 2015, Institutional Class will be renamed Class I. The features and policies of the class will not change.

Pramod Atluri has replaced Ford O'Neil as the co-manager of the fund.

The following information replaces similar information found in the "Management Contract" section beginning on page 42.

Pramod Atluri is co-manager of Fidelity Advisor Balanced Fund and receives compensation for managing the bond investments of the fund. As of February 28, 2015, portfolio manager compensation generally consists of a fixed base salary determined periodically (typically annually), a bonus, in certain cases, participation in several types of equity-based compensation plans, and, if applicable, relocation plan benefits. A portion of the portfolio manager's compensation may be deferred based on criteria established by FMR or at the election of the portfolio manager.

The portfolio manager's base salary is determined by level of responsibility and tenure at FMR or its affiliates. The primary components of the portfolio manager's bonus are based on (i) the pre-tax investment performance of the portfolio manager's fund(s) and account(s) measured against a benchmark index assigned to each fund or account, and (ii) the investment performance of other FMR taxable bond funds and accounts. The pre-tax investment performance of the portfolio manager's fund(s) and account(s) is weighted according to his tenure on those fund(s) and account(s) and the average asset size of those fund(s) and account(s) over his tenure. Each component is calculated separately over the portfolio manager's tenure on those fund(s) and account(s) over a measurement period that initially is contemporaneous with his tenure, but that eventually encompasses rolling periods of up to three years for the comparison to a benchmark index. A smaller, subjective component of the portfolio manager's bonus is based on the portfolio manager's overall contribution to management of FMR. The portion of the portfolio manager's bonus that is linked to the investment performance of Fidelity Advisor Balanced Fund is based on the pre-tax investment performance of the bond investments of the fund measured against the Barclays U.S. Aggregate Bond Index. The portfolio manager also is compensated under equity-based compensation plans linked to increases or decreases in the net asset value of the stock of FMR LLC, FMR's parent company. FMR LLC is a diverse financial services company engaged in various activities that include fund management, brokerage, retirement, and employer administrative services. If requested to relocate their primary residence, portfolio managers also may be eligible to receive benefits, such as home sale assistance and payment of certain moving expenses, under relocation plans for most full-time employees of FMR LLC and its affiliates.

The portfolio manager's compensation plan may give rise to potential conflicts of interest. Although investors in the fund may invest through either tax-deferred accounts or taxable accounts, the portfolio manager's compensation is linked to the pre-tax performance of the fund, rather than its after-tax performance. The portfolio manager's base pay tends to increase with additional and more complex responsibilities that include increased assets under management and a portion of the bonus relates to marketing efforts, which together indirectly link compensation to sales. When a portfolio manager takes over a fund or an account, the time period over which performance is measured may be adjusted to provide a transition period in which to assess the portfolio. The management of multiple funds and accounts (including proprietary accounts) may give rise to potential conflicts of interest if the funds and accounts have different objectives, benchmarks, time horizons, and fees as the portfolio manager must allocate his time and investment ideas across multiple funds and accounts. In addition, a fund's trade allocation policies and procedures may give rise to conflicts of interest if the fund's orders do not get fully executed due to being aggregated with those of other accounts managed by FMR or an affiliate. The portfolio manager may execute transactions for another fund or account that may adversely impact the value of securities held by a fund. Securities selected for other funds or accounts may outperform the securities selected for the fund. Portfolio managers may be permitted to invest in the funds they manage, even if a fund is closed to new investors. Trading in personal accounts, which may give rise to potential conflicts of interest, is restricted by a fund's Code of Ethics. 

AIG-AIGIB-15-02		June 1, 2015
1.890535.115

The following table provides information relating to other accounts managed by Mr. Atluri as of August 31, 2014:

 

Registered
Investment
Companies*

Other Pooled
Investment
Vehicles

Other
Accounts

Number of Accounts Managed

9

1

5

Number of Accounts Managed with Performance-Based Advisory Fees

none

none

none

Assets Managed (in millions)

$ 38,295

$ 951

$ 3,603

Assets Managed with Performance-Based Advisory Fees (in millions)

none

none

none

* Includes assets of Fidelity Advisor Balanced Fund managed by Mr. Atluri ($545 (in millions) assets managed).

As of February 28, 2015, the dollar range of shares of Fidelity Advisor Balanced Fund beneficially owned by Mr. Atluri was none.

Supplement to the
Fidelity Advisor® Balanced Fund
Institutional Class
October 30, 2014
Prospectus

Effective July 1, 2015, Institutional Class will be renamed Class I. The features and policies of the class will not change.

The following information replaces similar information found in the "Fund Summary" section under the heading "Portfolio Manager(s)" on page 6.

The fund is managed by members of FMR's Stock Selector Large Cap Group and Pramod Atluri. Robert Stansky (co-manager), Steven Kaye (co-manager), Robert Lee (co-manager), Douglas Simmons (co-manager), and Pierre Sorel (co-manager) have managed the fund since September 2008. Peter Saperstone (co-manager) has managed the fund since March 2011. Tobias Welo (co-manager) has managed the fund since November 2011. Brian Lempel (co-manager) has managed the fund since April 2013. Jonathan Kasen (co-manager) and Monty Kori (co-manager) have managed the fund since July 2013. Pramod Atluri (co-manager) has managed the fund since February 2015.

The following information replaces the biographical information for Ford O'Neil found in the "Fund Management" section beginning on page 25.

Pramod Atluri is co-manager of the fund, which he has managed since February 2015. Mr. Atluri manages the fixed-income asset class of the fund. He also manages other funds. Since joining Fidelity Investments in 2004, Mr. Atluri has worked as an industrial research analyst, an asset allocation analyst, and a portfolio manager. 

AIGI-15-02		June 1, 2015
1.744350.132

Supplement to the
Fidelity Advisor® Dividend Growth Fund
Institutional Class
January 29, 2015
Prospectus

Effective July 1, 2015, Institutional Class will be renamed Class I. The features and policies of the class will not change. 

ADGFI-15-01		June 1, 2015
1.756195.124

Supplement to the
Fidelity Advisor® Equity Growth Fund
Institutional Class
January 29, 2015
Prospectus

Effective July 1, 2015, Institutional Class will be renamed Class I. The features and policies of the class will not change. 

EPGI-15-01		June 1, 2015
1.756212.122

Supplement to the
Fidelity Advisor® Equity Income Fund
Institutional Class
January 29, 2015
Prospectus

Effective July 1, 2015, Institutional Class will be renamed Class I. The features and policies of the class will not change. 

EPII-15-01		June 1, 2015
1.756210.123

Supplement to the
Fidelity Advisor® Equity Value Fund
Institutional Class
January 29, 2015
Prospectus

Effective July 1, 2015, Institutional Class will be renamed Class I. The features and policies of the class will not change. 

AEVI-15-01		June 1, 2015
1.760402.121

Supplement to the
Fidelity Advisor® Floating Rate High Income Fund
Institutional Class
December 30, 2014
Prospectus

Effective July 1, 2015, Institutional Class will be renamed Class I. The features and policies of the class will not change. 

AFRI-15-01		June 1, 2015
1.746477.131

Supplement to the
Fidelity Advisor® Growth & Income Fund
Institutional Class
January 29, 2015
Prospectus

Effective July 1, 2015, Institutional Class will be renamed Class I. The features and policies of the class will not change. 

AGAII-15-01		June 1, 2015
1.741968.125

Supplement to the
Fidelity Advisor® Growth Opportunities Fund
Institutional Class
January 29, 2015
Prospectus

Effective July 1, 2015, Institutional Class will be renamed Class I. The features and policies of the class will not change.

Steven Wymer no longer serves as co-manager of the fund.

The following information replaces similar information found in the "Fund Summary" section under the heading "Portfolio Manager(s)" on page 5.

Gopal Reddy (portfolio manager) has managed the fund since October 2012.

The following information replaces the biographical information found in the "Fund Management" section beginning on page 21.

Gopal Reddy is portfolio manager of the fund, which he has managed since October 2012. He also manages other funds. Since joining Fidelity Investments in 2001, Mr. Reddy has worked as a research analyst and portfolio manager. 

GOI-15-02		June 1, 2015
1.756208.127

Supplement to the
Fidelity Advisor® High Income Advantage Fund
Institutional Class
December 30, 2014
Prospectus

Effective July 1, 2015, Institutional Class will be renamed Class I. The features and policies of the class will not change. 

HYI-15-01		June 1, 2015
1.742523.125

Supplement to the
Fidelity Advisor® High Income Fund
Institutional Class
December 30, 2014
Prospectus

Effective July 1, 2015, Institutional Class will be renamed Class I. The features and policies of the class will not change. 

AHII-15-01		June 1, 2015
1.754057.124

Supplement to the
Fidelity Advisor® Large Cap Fund
Institutional Class
January 29, 2015
Prospectus

Effective July 1, 2015, Institutional Class will be renamed Class I. The features and policies of the class will not change. 

LCI-15-01		June 1, 2015
1.756205.124

Supplement to the

Fidelity Advisor® Leveraged Company Stock Fund

Class A (FLSAX), Class T (FLSTX), Class B (FLCBX), Class C (FLSCX), and Institutional Class (FLVIX)

A Fund of Fidelity Advisor Series I

STATEMENT OF ADDITIONAL INFORMATION

September 29, 2014

Effective on July 1, 2015, Institutional Class will be renamed Class I. The features and policies of the class will not change. 

ALSF-ALSFIB-15-01		June 1, 2015
1.881210.106

Supplement to the
Fidelity Advisor® Leveraged Company Stock Fund
Institutional Class
September 29, 2014
Prospectus

Effective on July 1, 2015, Institutional Class will be renamed Class I. The features and policies of the class will not change. 

ALSFI-15-01		June 1, 2015
1.756219.121

Supplement to the
Fidelity Advisor® Mid Cap II Fund
Institutional Class
February 28, 2015
Prospectus

Effective July 1, 2015, Institutional Class will be renamed Class I. The features and policies of the class will not change. 

AMPI-15-01		June 1, 2015
1.806138.118

Supplement to the
Fidelity Advisor® Small Cap Fund
Institutional Class
January 29, 2015
Prospectus

Effective July 1, 2015, Institutional Class will be renamed Class I. The features and policies of the class will not change. 

ASCFI-15-01		June 1, 2015
1.708464.126

Supplement to the
Fidelity Advisor® Stock Selector Mid Cap Fund
Institutional Class
January 29, 2015
Prospectus

Effective July 1, 2015, Institutional Class will be renamed Class I. The features and policies of the class will not change. 

MCI-15-01		June 1, 2015
1.756201.129

Supplement to the
Fidelity Advisor® Value Fund
Institutional Class
December 30, 2014
Prospectus

Effective July 1, 2015, Institutional Class will be renamed Class I. The features and the policies of the class will not change. 

FAVI-15-01		June 1, 2015
1.806143.125

Supplement to the
Fidelity Advisor® Value Strategies Fund
Institutional Class
January 29, 2015
Prospectus

Effective July 1, 2015, Institutional Class will be renamed Class I. The features and policies of the class will not change. 

ISO-15-01		June 1, 2015
1.751426.126

Supplement to the

Fidelity Advisor® Mid Cap II Fund Class Z (FZAMX) and Fidelity Advisor New Insights Fund Class Z (FZANX)

Funds of Fidelity Advisor Series I and Fidelity Contrafund

STATEMENT OF ADDITIONAL INFORMATION

February 28, 2015

The following information replaces similar information found in the "Description of the Trusts" section on page 52.

Custodians. Brown Brothers Harriman & Co., 50 Post Office Square, Boston, Massachusetts, is custodian of the assets of each fund. The custodian is responsible for the safekeeping of a fund's assets and the appointment of any subcustodian banks and clearing agencies. JPMorgan Chase Bank, headquartered in New York, also may serve as a special purpose custodian of certain assets in connection with repurchase agreement transactions. The Bank of New York Mellon, headquartered in New York, also may serve as a special purpose custodian of certain assets in connection with repurchase agreement transactions. From time to time, subject to approval by a fund's Treasurer, each fund may enter into escrow arrangements with other banks if necessary to participate in certain investment offerings. 

ACOMZ12B-15-01		June 1, 2015
1.9585181.101