Supplement to the
Gold Portfolio
Class A, Class M, Class C and Class I
April 29, 2017
Prospectus

On or about July 13, 2017, Advisor M Class of Fidelity^® Government Money Market Fund will replace Daily Money Class shares of Fidelity^® funds as an exchange privilege for Class M (formerly Class T) shareholders.

AGLD-17-03
1.847523.120 May 5, 2017

Supplement to the
Telecommunications Portfolio
Class A, Class M, Class C and Class I
April 29, 2017
Prospectus

On or about July 13, 2017, Advisor M Class of Fidelity^® Government Money Market Fund will replace Daily Money Class shares of Fidelity^® funds as an exchange privilege for Class M (formerly Class T) shareholders.

ATLC-17-03
1.845214.121 May 5, 2017

Supplement to the
Consumer Staples Portfolio
Class A, Class M, Class C and Class I
April 29, 2017
Prospectus

On or about July 13, 2017, Advisor M Class of Fidelity^® Government Money Market Fund will replace Daily Money Class shares of Fidelity^® funds as an exchange privilege for Class M (formerly Class T) shareholders.

ACSF-17-03
1.847521.118 May 5, 2017

Supplement to the
Fidelity® International Real Estate Fund
Class A, Class T, Class C and Class I
September 29, 2016
Prospectus

On or about July 13, 2017, Advisor M Class of Fidelity^® Government Money Market Fund will replace Daily Money Class shares of Fidelity^® funds as an exchange privilege for Class M (formerly Class T) shareholders.

Effective after close of business on March 24, 2017, Class T will be renamed Class M.

Effective December 12, 2016, the following information replaces similar information in the “Shareholder Information” section under the heading “Selling Shares”.

• Certain types of transactions in employer-sponsored and 403(b) retirement plans, including redemptions in conjunction with plan sponsor events and redemptions of shares purchased through plan sponsor events, plan contributions or loan repayments.

AIRE-17-02
1.855555.117 May 5, 2017

Supplement to the
Materials Portfolio
Class A, Class M, Class C and Class I
April 29, 2017
Prospectus

On or about July 13, 2017, Advisor M Class of Fidelity^® Government Money Market Fund will replace Daily Money Class shares of Fidelity^® funds as an exchange privilege for Class M (formerly Class T) shareholders.

AMF-17-03
1.847525.119 May 5, 2017