-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, SUW7JuFgybdUNUWotIE+e0qTV2R7CADOZqZhAFMAfmD+kVAjaSMksWvWXHISAx+E MRCgn+6756atx1ekWb1eNg== 0000320351-96-000006.txt : 19960105 0000320351-96-000006.hdr.sgml : 19960105 ACCESSION NUMBER: 0000320351-96-000006 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19960104 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIDELITY SELECT PORTFOLIOS CENTRAL INDEX KEY: 0000320351 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 042732797 STATE OF INCORPORATION: MA FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-69972 FILM NUMBER: 96500843 BUSINESS ADDRESS: STREET 1: 82 DEVONSHIRE ST CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6174391263 MAIL ADDRESS: STREET 1: 82 DEVONSHIRE STREET STREET 2: MAILZONE ZH1 CITY: BOSTON STATE: MA ZIP: 02109 497 1 SUPPLEMENT TO THE FIDELITY SELECT PORTFOLIOS(registered trademark) PROSPECTUS DATED APRIL 29, 1995 Effective July 31, 1995, the following information supplements that found in the section entitled "FMR and Its Affiliates," beginning on page P-34. John Avery has managed Chemicals since July 1995. He joined Fidelity in January 1995. Previously, Mr. Avery was a domestic analyst at Putnam Investments from 1993 to December 1994, and he was an investment banking associate for Alex Brown & Sons from 1986 to 1991. He received an MBA from the Wharton School at the University of Pennsylvania in 1993. Effective July 31, 1995, the following information replaces that found in the section entitled "FMR and Its Affiliates," beginning on page P-34. David Felman has been manager of Telecommunications since April 1994 and has been assisting on Magellan since January 1995. Previously, he managed Chemicals. Mr. Felman joined Fidelity as a research analyst in June 1993 after receiving his M.A. from Harvard University. He received his M.B.A. from New York University in 1991. Effective July 21, 1995, the following information replaces that found in the section entitled "FMR and Its Affiliates," beginning on page P-34. Malcolm MacNaught has been portfolio manager of Precious Metals and Minerals since July 1981. He also manages Advisor Global Natural Resources, and he previously managed American Gold. Mr. MacNaught joined Fidelity in 1968. Effective July 21, 1995, the following information supplements that found in the section entitled "FMR and Its Affiliates," beginning on page P-34. Lawrence Rakers has managed American Gold since July 1995. He joined Fidelity as a research analyst in 1993. Previously, he was a project engineer for Loral Corporation from 1986 to 1993, and he received an MBA from Northeastern University in 1993. The following information replaces the similar information found in the "Transaction Details" section beginning on page P-54. FDC collects the proceeds from the fund's 3 % sales charge and may pay a portion of them to securities dealers who have sold the fund's shares, or to others, including banks and other financial institutions (qualified recipients), under special arrangements in connection with FDC's sales activities. The sales charge paid to qualified recipients is 1.50% of the fund's offering price. The following information replaces the similar information found in the section entitled "Exchange Restrictions," beginning on page P-55. For cash management purposes, up to three business days may pass before exchange proceeds are paid from one Select fund to another, or to another Fidelity equity fund. Exchange proceeds are recorded in your shareholder account when the transaction occurs. Therefore, when you exchange from a stock fund to the money market fund, you will earn money market dividends immediately. When you exchange from the money market fund to a stock fund, you will not earn money market dividends during the three business-day period. This policy could increase the volatility of the money market fund's yield. The following information replaces the similar information found in the "Waivers" section beginning on page P-56. 6. To shares purchased through Portfolio Advisory Services or Fidelity Charitable Advisory Services. FIDELITY SELECT PORTFOLIOS(registered trademark) FUNDS OF FIDELITY SELECT PORTFOLIOS SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION DATED APRIL 29, 1995 The following information replaces the similar information found in the "Additional Purchase and Redemption Information" section on page 41. 7. to shares purchased through Portfolio Advisory Services or Fidelity Charitable Advisory Services; MANAGEMENT CONTRACT. Effective January 1, 1996, FMR agreed to voluntarily adopt the revised group fee rate schedule shown below for purposes of calculating the group fee component of the management fee. The revised schedule provides for lower management fees as total assets under management increase, and it will be presented to shareholders for approval at the next shareholder meeting. The following information replaces the "Group Fee Rate" and "Effective Annual Fee Rate" schedules for the money market fund found on pages 48-49. GROUP FEE RATE SCHEDULE EFFECTIVE ANNUAL FEE RATES Average Group Annualized Group Net Effective Annual Fee Assets Rate Assets Rate 0 - $ 3 billion .3700% $ 0.5 billion .5200% 3 - 6 .3400 25 .4238 6 - 9 .3100 50 .3823 9 - 12 .2800 75 .3626 12 - 15 .2500 100 .3512 15 - 18 .2200 125 .3430 18 - 21 .2000 150 .3371 21 - 24 .1900 175 .3325 24 - 30 .1800 200 .3284 30 - 36 .1750 225 .3249 36 - 42 .1700 250 .3219 42 - 48 .1650 275 .3190 48 - 66 .1600 300 .3163 66 - 84 .1550 325 .3137 84 - 120 .1500 350 .3113 120 - 156 .1450 375 .3090 156 - 192 .1400 400 .3067 192 - 228 .1350 425 .1443 228 - 264 .1300 450 .1427 264 - 300 .1275 475 .1413 300 - 336 .1250 500 .1399 336 - 372 .1225 525 .1385 372 - 408 .1200 550 .1372 408 - 444 .1175 444 - 480 .1150 480 - 516 .1125 Over 516 .1100 SELB-96-1 January 1, 1996 MANAGEMENT CONTRACT. Effective January 1, 1996, FMR agreed to voluntarily adopt the revised group fee rate schedule shown below for purposes of calculating the group fee component of the management fee. The revised schedule provides for lower management fees as total assets under management increase, and it will be presented to shareholders for approval at the next shareholder meeting. The following information replaces the "Group Fee Rate" and "Effective Annual Fee Rate" schedules for the stock funds found on page 50. GROUP FEE RATE SCHEDULE EFFECTIVE ANNUAL FEE RATES Average Group Annualized Group Net Effective Annual Fee Assets Rate Assets Rate 0 - $ 3 billion .5200% $ 0.5 billion .5200% 3 - 6 .4900 25 .4238 6 - 9 .4600 50 .3823 9 - 12 .4300 75 .3626 12 - 15 .4000 100 .3512 15 - 18 .3850 125 .3430 18 - 21 .3700 150 .3371 21 - 24 .3600 175 .3325 24 - 30 .3500 200 .3284 30 - 36 .3450 225 .3249 36 - 42 .3400 250 .3219 42 - 48 .3350 275 .3190 48 - 66 .3250 300 .3163 66 - 84 .3200 325 .3137 84 - 102 .3150 350 .3113 102 - 138 .3100 375 .3090 138 - 174 .3050 400 .3067 174 - 210 .3000 425 .3046 210 - 246 .2950 450 .3024 246 - 282 .2900 475 .3003 282 - 318 .2850 500 .2982 318 - 354 .2800 525 .2962 354 - 390 .2750 550 .2942 390 - 426 .2700 426 - 462 .2650 462 - 498 .2600 498 - 534 .2550 Over 534 .2500 SELB-96-1 January 1, 1996 -----END PRIVACY-ENHANCED MESSAGE-----