0001193125-24-054800.txt : 20240301 0001193125-24-054800.hdr.sgml : 20240301 20240301092759 ACCESSION NUMBER: 0001193125-24-054800 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: 24707363 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 S000039312 Fidelity Telecom and Utilities Fund C000121123 Fidelity Telecom and Utilities Fund FIUIX 497K 1 d670005d497k.htm FIDELITY SELECT PORTFOLIOS FIDELITY SELECT PORTFOLIOS

Supplement to the

Fidelity® Select Portfolios®

Telecom and Utilities Fund

April 1, 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 basic fee rate that may vary by class (subject to a performance adjustment). 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 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 (fluctuates based on the fund’s performance relative to a securities market index)

   0.73%A,B   

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

   None    

Other expenses

   0.01%B   
 

 

Total annual operating expenses

   0.74%   

A The management fee comprises a basic fee, which may vary by class, that is adjusted up or down (subject to a maximum rate) based on the performance of the fund or a designated class of the fund relative to that of the Russell 3000® Telecom and Utilities Select Index. The basic fee covers administrative services previously provided under separate services agreements with the fund, for which 0.18% was previously charged under the services agreements. Please see “Fund Services - Fund Management - Advisory Fee(s)” for additional information.

B Adjusted to reflect current fees.

 

1 year

    $ 76    

3 years

    $ 237    

5 years

    $ 411    

10 years

    $ 918    

 

UIF-SUSTK-0324-100

1.9911358.100

    March 1, 2024