-----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, Qrd3eC1TemvI6qweDzfoN8x3RJshD9deV0RQP7uKiTba9FYJNkxgYpxfM/Nv7K1V /EMAf9iVvHuhWbL84VBsbw== 0000320351-07-000001.txt : 20070118 0000320351-07-000001.hdr.sgml : 20070118 20070118091116 ACCESSION NUMBER: 0000320351-07-000001 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20070118 DATE AS OF CHANGE: 20070118 EFFECTIVENESS DATE: 20070118 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIDELITY SELECT PORTFOLIOS CENTRAL INDEX KEY: 0000320351 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: 07536489 BUSINESS ADDRESS: STREET 1: 82 DEVONSHIRE ST CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 617-563-1413 MAIL ADDRESS: STREET 1: 82 DEVONSHIRE STREET STREET 2: MAILZONE Z1C CITY: BOSTON STATE: MA ZIP: 02109 0000320351 S000007453 Air Tranportation Portfolio C000020427 Air Transportation Portfolio FSAIX 0000320351 S000007454 Consumer Discretionary Portfolio C000020428 Consumer Discretionary Portfolio FSCPX 0000320351 S000007455 Industrials Portfolio C000020429 Industrials Portfolio FCYIX 0000320351 S000007456 Defense and Aerospace Portfolio C000020430 Defense and Aerospace Portfolio FSDAX 0000320351 S000007457 Communications Equipment Portfolio C000020431 Communications Equipment Portfolio FSDCX 0000320351 S000007458 Electronics Portfolio C000020432 Electronics Portfolio FSELX 0000320351 S000007459 Energy Portfolio C000020433 Energy Portfolio FSENX 0000320351 S000007460 Energy Service Portfolio C000020434 Energy Service Portfolio FSESX 0000320351 S000007461 Environmental Portfolio C000020435 Environmental Portfolio FSLEX 0000320351 S000007462 Financial Services Portfolio C000020436 Financial Services Portfolio FIDSX 0000320351 S000007463 Consumer Staples Portfolio C000020437 Consumer Staples Portfolio FDFAX C000040616 Fidelity Advisor Consumer Staples Fund: Class A C000040617 Fidelity Advisor Consumer Staples Fund: Class B C000040618 Fidelity Advisor Consumer Staples Fund: Class C C000040619 Fidelity Advisor Consumer Staples Fund: Class T C000040620 Fidelity Advisor Consumer Staples Fund: Institutional Class 0000320351 S000007464 Automotive Portfolio C000020438 Automotive Portfolio FSAVX 0000320351 S000007465 Gold Portfolio C000020439 Gold Portfolio FSAGX C000040621 Fidelity Advisor Gold Fund: Institutional Class C000040622 Fidelity Advisor Gold Fund: Class A C000040623 Fidelity Advisor Gold Fund: Class B C000040624 Fidelity Advisor Gold Fund: Class C C000040625 Fidelity Advisor Gold Fund: Class T 0000320351 S000007466 Health Care Portfolio C000020440 Health Care Portfolio FSPHX 0000320351 S000007467 Home Finance Portfolio C000020441 Home Finance Portfolio FSVLX 0000320351 S000007468 Industrial Equipment Portfolio C000020442 Industrial Equipment Portfolio FSCGX 0000320351 S000007469 Materials Portfolio C000020443 Materials Portfolio FSDPX C000040626 Fidelity Advisor Materials Fund: Class A C000040627 Fidelity Advisor Materials Fund: Class B C000040628 Fidelity Advisor Materials Fund: Class C C000040629 Fidelity Advisor Materials Fund: Class T C000040630 Fidelity Advisor Materials Fund: Institutional Class 0000320351 S000007470 Insurance Portfolio C000020444 Insurance Portfolio FSPCX 0000320351 S000007471 Leisure Portfolio C000020445 Leisure Portfolio FDLSX 0000320351 S000007472 Medical Delivery Portfolio C000020446 Medical Delivery Portfolio FSHCX 0000320351 S000007473 Medical Equipment and Systems Portfolio C000020447 Medical Equipment and Systems Portfolio FSMEX 0000320351 S000007474 Money Market Portfolio C000020448 Money Market Portfolio FSLXX 0000320351 S000007475 Banking Portfolio C000020449 Banking Portfolio FSRBX 0000320351 S000007476 Multimedia Portfolio C000020450 Multimedia Portfolio FBMPX 0000320351 S000007477 Natural Gas Portfolio C000020451 Natural Gas Portfolio FSNGX 0000320351 S000007478 Natural Resources Portfolio C000020452 Natural Resources Portfolio FNARX 0000320351 S000007479 Networking and Infrastructure Portfolio C000020453 Networking and Infrastructure Portfolio FNINX 0000320351 S000007480 Paper and Forest Products Portfolio C000020454 Paper and Forest Products Portfolio FSPFX 0000320351 S000007481 Pharmaceuticals Portfolio C000020455 Pharmaceuticals Portfolio FPHAX 0000320351 S000007482 Retailing Portfolio C000020456 Retailing Portfolio FSRPX 0000320351 S000007483 Software and Computer Services Portfolio C000020457 Software and Computer Services Portfolio FSCSX 0000320351 S000007484 Technology Portfolio C000020458 Technology Portfolio FSPTX 0000320351 S000007485 Telecommunications Portfolio C000020459 Telecommunications Portfolio FSTCX C000040631 Fidelity Advisor Telecommunications Fund: Class A C000040632 Fidelity Advisor Telecommunications Fund: Class B C000040633 Fidelity Advisor Telecommunications Fund: Class C C000040634 Fidelity Advisor Telecommunications Fund: Class T C000040635 Fidelity Advisor Telecommunications Fund: Institutional Class 0000320351 S000007486 Biotechnology Portfolio C000020460 Biotechnology Portfolio FBIOX 0000320351 S000007487 Transportation Portfolio C000020461 Transportation Portfolio FSRFX 0000320351 S000007488 Utilities Growth Portfolio C000020462 Utilities Growth Portfolio FSUTX 0000320351 S000007489 Wireless Portfolio C000020463 Wireless Portfolio FWRLX 0000320351 S000007490 Brokerage and Investment Management Portfolio C000020464 Brokerage and Investment Management Portfolio FSLBX 0000320351 S000007491 IT Services Portfolio C000020465 IT Services Portfolio FBSOX 0000320351 S000007492 Chemicals Portfolio C000020466 Chemicals Portfolio FSCHX 0000320351 S000007493 Computers Portfolio C000020467 Computers Portfolio FDCPX 0000320351 S000007494 Construction and Housing Portfolio C000020468 Construction and Housing Portfolio FSHOX 497 1 main.htm

<R>Supplement to the
Fidelity® Select Portfolios®
April 29, 2006 revised November 29, 2006
Prospectus</R>

<R>Consumer Staples Portfolio, Gold Portfolio, Materials Portfolio, and Telecommunications Portfolio are composed of multiple classes of shares. References to each fund are deemed to include class where applicable. The features and policies related to your shares of each fund will not change.</R>

The following information supplements similar information for Utilities Growth Portfolio found in the "Performance" section on page 21.

Prior to October 1, 2006, Utilities Growth Portfolio operated under certain different investment policies, and compared its performance to a different benchmark. The fund's historical performance may not represent its current investment policies.

The following information replaces similar information found under the heading "Average Annual Returns" on page 42.

S&P®/Citigroup BMI Global Gold Index is a market capitalization-weighted index of stocks designed to measure the performance of companies that produce gold and related products, including companies that mine or process gold and the South African finance houses which primarily invest in, but do not operate, gold mines.

<R>The following information replaces the "Annual operating expenses" section of the "Fee Table" beginning on page 43.</R>

<R>Annual operating expenses (paid from fund assets)</R>

<R>Air Transportation</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.56%</R>

<R>Total annual fund operating expensesA</R>

<R>1.13%</R>

<R>Automotive</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.96%</R>

<R>Total annual fund operating expensesA</R>

<R>1.53%</R>

<R>Banking</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.35%</R>

<R>Total annual fund operating expensesA</R>

<R>0.92%</R>

<R>Biotechnology</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.36%</R>

<R>Total annual fund operating expensesA</R>

<R>0.93%</R>

<R>Brokerage and Investment Management</R>

<R>Management fee </R>

<R>0.58%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.34%</R>

<R>Total annual fund operating expensesA</R>

<R>0.92%</R>

<R>Chemicals</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.46%</R>

<R>Total annual fund operating expensesA</R>

<R>1.03%</R>

<R>Communications Equipment</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.45%</R>

<R>Total annual fund operating expensesA</R>

<R>1.02%</R>

<R>Computers</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.43%</R>

<R>Total annual fund operating expensesA</R>

<R>1.00%</R>

<R>SEL-07-01 January 18, 2007
1.482105.199</R>

<R>Construction and Housing</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.44%</R>

<R>Total annual fund operating expensesA</R>

<R>1.01%</R>

<R>Consumer Discretionary</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.55%</R>

<R>Total annual fund operating expensesA</R>

<R>1.12%</R>

<R>Consumer Staples</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.44%</R>

<R>Total annual fund operating expensesA</R>

<R>1.01%</R>

<R>Defense and Aerospace</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.37%</R>

<R>Total annual fund operating expensesA</R>

<R>0.94%</R>

<R>Electronics</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.34%</R>

<R>Total annual fund operating expensesA</R>

<R>0.91%</R>

<R>Energy</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.34%</R>

<R>Total annual fund operating expensesA</R>

<R>0.91%</R>

<R>Energy Service</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.33%</R>

<R>Total annual fund operating expensesA</R>

<R>0.90%</R>

<R>Environmental</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.77%</R>

<R>Total annual fund operating expensesA</R>

<R>1.34%</R>

<R>Financial Services</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.37%</R>

<R>Total annual fund operating expensesA</R>

<R>0.94%</R>

<R>Gold</R>

<R>Management fee </R>

<R>0.58%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.36%</R>

<R>Total annual fund operating expensesA</R>

<R>0.94%</R>

<R>Health Care</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.32%</R>

<R>Total annual fund operating expensesA</R>

<R>0.89%</R>

<R>Home Finance</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.37%</R>

<R>Total annual fund operating expensesA</R>

<R>0.94%</R>

<R>Industrial Equipment</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.45%</R>

<R>Total annual fund operating expensesA</R>

<R>1.02%</R>

<R>Industrials</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.53%</R>

<R>Total annual fund operating expensesA</R>

<R>1.10%</R>

<R>Insurance</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.43%</R>

<R>Total annual fund operating expensesA</R>

<R>1.00%</R>

<R>IT Services </R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.62%</R>

<R>Total annual fund operating expensesA</R>

<R>1.19%</R>

<R>Leisure</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.39%</R>

<R>Total annual fund operating expensesA</R>

<R>0.96%</R>

<R>Materials</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.45%</R>

<R>Total annual fund operating expensesA</R>

<R>1.02%</R>

<R>Medical Delivery</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.35%</R>

<R>Total annual fund operating expensesA</R>

<R>0.92%</R>

<R>Medical Equipment and Systems</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.35%</R>

<R>Total annual fund operating expensesA</R>

<R>0.92%</R>

<R>Multimedia</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.47%</R>

<R>Total annual fund operating expensesA</R>

<R>1.04%</R>

<R>Natural Gas</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.34%</R>

<R>Total annual fund operating expensesA</R>

<R>0.91%</R>

<R>Natural Resources</R>

<R>Management fee </R>

<R>0.58%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.38%</R>

<R>Total annual fund operating expensesA</R>

<R>0.96%</R>

<R>Networking and Infrastructure</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.54%</R>

<R>Total annual fund operating expensesA</R>

<R>1.11%</R>

<R>Paper and Forest Products</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.70%</R>

<R>Total annual fund operating expensesA</R>

<R>1.27%</R>

<R>Pharmaceuticals</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.50%</R>

<R>Total annual fund operating expensesA</R>

<R>1.07%</R>

<R>Retailing</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.48%</R>

<R>Total annual fund operating expensesA</R>

<R>1.05%</R>

<R>Software and Computer Services</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.35%</R>

<R>Total annual fund operating expensesA</R>

<R>0.92%</R>

<R>Technology</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.39%</R>

<R>Total annual fund operating expensesA</R>

<R>0.96%</R>

<R>Telecommunications</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.44%</R>

<R>Total annual fund operating expensesA</R>

<R>1.01%</R>

<R>Transportation</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.53%</R>

<R>Total annual fund operating expensesA</R>

<R>1.10%</R>

<R>Utilities Growth</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.37%</R>

<R>Total annual fund operating expensesA</R>

<R>0.94%</R>

<R>Wireless</R>

<R>Management fee </R>

<R>0.57%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.40%</R>

<R>Total annual fund operating expensesA</R>

<R>0.97%</R>

<R>Money Market</R>

<R>Management fee </R>

<R>0.21%</R>

<R>Distribution and/or Service (12b-1) fees</R>

<R>None</R>

<R>Other expenses </R>

<R>0.19%</R>

<R>Total annual fund operating expensesB</R>

<R>0.40%</R>

<R>A Effective January 1, 2007, FMR has voluntarily agreed to reimburse each fund to the extent that total operating expenses (excluding interest, taxes, certain securities lending costs, brokerage commissions, and extraordinary expenses), as a percentage of their respective average net assets, exceed 1.15%. These arrangements may be discontinued by FMR at any time.</R>

<R>B Effective February 1, 2005, FMR has voluntarily agreed to reimburse the fund to the extent that total operating expenses (excluding interest, taxes, certain securities lending costs, brokerage commissions, and extraordinary expenses), as a percentage of their respective average net assets, exceed 1.25%. These arrangements may be discontinued by FMR at any time.</R>

The following information replaces the biographical information for Chemicals Portfolio found in the "Fund Management" section on page 69.

<R>Duffy Fischer is manager of Chemicals Portfolio, which he has managed since December 2006. Mr. Fischer joined Fidelity Investments in July 2006 as a research analyst. Previously, he was a research analyst and portfolio manager for Goldman Sachs & Co. from 1999 until 2006. </R>

<R>The following information replaces the biographical information for Industrials Portfolio found in the "Fund Management" section on page 69.</R>

<R>Tobias W. Welo is manager of Industrials Portfolio, which he has managed since January 2007. Since joining Fidelity Investments in 2005, Mr. Welo has worked as an analyst. Prior to joining Fidelity, he worked as an analyst and assistant portfolio manager for BlackRock. From 1999 until 2002, Mr. Welo was an analyst for Boston Partners.</R>

<R>The following information replaces the biographical information for Paper & Forest Products Portfolio found in the "Fund Management" section on page 69.</R>

<R>Justin Bennett is manager of Paper and Forest Products Portfolio, which he has managed since March 2006. Mr. Bennett joined Fidelity Investments as a research analyst in August 2005, after receiving an MBA from The Wharton School at the University of Pennsylvania in 2005. Previously, he was an equity research associate at Morgan Stanley.</R>

<R>The following information replaces the biographical information for Software & Computer Services Portfolio found in the "Fund Management" section on page 69.</R>

<R>Mayank Tandon is manager of Software & Computer Services Portfolio, which he has managed since January 2007. Since joining Fidelity Investments in 2006, Mr. Tandon has worked as a research analyst. Prior to joining Fidelity, he worked as a research analyst for Janney Montgomery Scott LLC from 1998 until 2006.</R>

<R>The following information replaces the biographical information for Transportation Portfolio found in the "Fund Management" section on page 69.</R>

<R>Lindsay Connor is manager of Transportation Portfolio, which she has managed since April 2006. Ms. Connor joined Fidelity Investments as a research analyst in 2004, after receiving an MBA from Dartmouth College. Previously, she was an associate and founding employee for Edgemont Capital Partners in New York</R>

<R>The following information replaces the biographical information for IT Services Portfolio found in the "Fund Management" section on page 70.</R>

<R>Benjamin Hesse is manager of IT Services Portfolio, which he has managed since January 2007. Mr. Hesse joined Fidelity Investments as a research analyst in August 2005, after receiving an MBA from Columbia Business School in 2005. Previously, Mr. Hesse was a research analyst intern at Credit Suisse Asset Management in New York.</R>

<R>The following information replaces the biographical information for Technology Portfolio found in the "Fund Management" section on page 70.</R>

<R>Yun-Min Chai is manager of Technology Portfolio , which he has managed since January 2007. He also manages other Fidelity funds. Since joining Fidelity Investments in 1997, Mr. Chai has worked as a research analyst and portfolio manager.</R>

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