0000823535-12-000015.txt : 20120213 0000823535-12-000015.hdr.sgml : 20120213 20120213090417 ACCESSION NUMBER: 0000823535-12-000015 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20120213 DATE AS OF CHANGE: 20120213 EFFECTIVENESS DATE: 20120213 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIDELITY SELECT PORTFOLIOS CENTRAL INDEX KEY: 0000320351 IRS NUMBER: 000000000 FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-69972 FILM NUMBER: 12595432 BUSINESS ADDRESS: STREET 1: 82 DEVONSHIRE STREET CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 617-563-7000 MAIL ADDRESS: STREET 1: 82 DEVONSHIRE STREET CITY: BOSTON STATE: MA ZIP: 02109 0000320351 S000007462 Financial Services Portfolio C000020436 Financial Services Portfolio FIDSX 0000320351 S000007467 Consumer Finance Portfolio C000020441 Consumer Finance Portfolio FSVLX 0000320351 S000007470 Insurance Portfolio C000020444 Insurance Portfolio FSPCX 0000320351 S000007475 Banking Portfolio C000020449 Banking Portfolio FSRBX 0000320351 S000007490 Brokerage and Investment Management Portfolio C000020464 Brokerage and Investment Management Portfolio FSLBX 497 1 main.htm

Supplement to the
Fidelity® Select Portfolios®
Financials Sector
April 29, 2011
Prospectus

The following information replaces similar information for Banking Portfolio found in the "Fund Summary" section under the heading "Portfolio Manager(s)" on page 4.

Vincent Montemaggiore (co-manager) has managed the fund since June 2008.

John Sheehy (co-manager) has managed the fund since January 2012.

The following information replaces the similar information for Brokerage & Investment Management Portfolio found under the heading "Fee Table" in the "Fund Summary" section beginning on page 6.

Annual fund operating expenses
(expenses that you pay each year as a % of the value of your investment)

Management fee

0.56%

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

None

Other expenses

0.32%

Acquired fund fees and expenses

0.44%

Total annual fund operating expenses A

1.32%

A Differs from the ratios of expenses to average net assets in the Financial Highlights section of the prospectus because of acquired fund fees and expenses.

The following information replaces the similar information for Brokerage & Investment Management Portfolio found under the heading "Fee Table" in the "Fund Summary" section beginning on page 6.

1 year

 

$134

3 years

 

$418

5 years

 

$723

10 years

 

$1,590

The following information supplements the biographical information found in the "Fund Management" section on page 27.

Vincent Montemaggiore is co-manager of Banking Portfolio, which he has managed since June 2008. He also manages other Fidelity funds. Since joining Fidelity Investments in 2005, Mr. Montemaggiore has worked as an equity research analyst and portfolio manager.

John Sheehy is co-manager of Banking Portfolio, which he has managed since January 2012. He also manages other Fidelity funds. Mr. Sheehy joined Fidelity Investments in 2007 as an equity research analyst after receiving an MBA from the Stern School of Business at NYU. 

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