0001193125-24-054799.txt : 20240301 0001193125-24-054799.hdr.sgml : 20240301 20240301092759 ACCESSION NUMBER: 0001193125-24-054799 CONFORMED SUBMISSION TYPE: 497K PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240301 DATE AS OF CHANGE: 20240301 EFFECTIVENESS DATE: 20240301 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIDELITY SELECT PORTFOLIOS CENTRAL INDEX KEY: 0000320351 ORGANIZATION NAME: IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: 497K SEC ACT: 1933 Act SEC FILE NUMBER: 002-69972 FILM NUMBER: 24707362 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 0000320351 S000007492 Chemicals Portfolio C000020466 Chemicals Portfolio FSCHX 497K 1 d635354d497k.htm FIDELITY SELECT PORTFOLIOS FIDELITY SELECT PORTFOLIOS

Supplement to the

Fidelity® Select Portfolios®

Chemicals Portfolio

April 29, 2023

Summary Prospectus

Effective March 1, 2024, the fund’s management contract was amended to incorporate administrative services previously covered under separate services agreements. The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class’s management fee.

The following information replaces similar information for Chemicals Portfolio found in the “Fund Summary” section under the “Fee Table” heading.

Annual Operating Expenses

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

 

Management fee

   0.69%A,B   

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

   None    

Other expenses

   0.01%B   
 

 

Total annual operating expenses

   0.70%   

A The management fee covers administrative services previously provided under separate services agreements with the fund, for which 0.21% was previously charged under the services agreements.

B Adjusted to reflect current fees.

 

1 year

    $ 72    

3 years

    $ 224    

5 years

    $ 390    

10 years

    $ 871    

The following information replaces similar information found in the “Fund Summary” section under the “Portfolio Manager(s)” heading.

David Wagner (Co-Portfolio Manager) has managed the fund since 2019.

Emma Baumgartner (Co-Portfolio Manager) has managed the fund since 2023.

Effective December 31, 2023, Mr. Wagner will no longer serve as Co-Portfolio Manager for the fund. At that time, Ms. Baumgartner will assume sole portfolio manager responsibilities.

 

CHE-SUSTK-0324-103

1.9880372.103

   March 1, 2024