Supplement to the
Gold Portfolio
Class A, Class M, Class C and Class I
April 28, 2018
Prospectus
The following information replaces similar information found in the Fund Summary section under the Fee Table heading.
The following table describes the fees and expenses that may be incurred when you buy and hold shares of the fund. In addition to the fees and expenses described below, your broker may also require you to pay brokerage commissions on purchases and sales of certain share classes of the fund.
Effective October 1, 2018, the following information replaces similar information found in the "Fund Summary" section under the "Portfolio Manager(s)" heading.
Joe Wickwire (lead portfolio manager) has managed the fund since August 2007.
Steve Calhoun (co-manager) has managed the fund since October 2018.
It is expected that Mr. Wickwire will retire effective as of the close of business on or about March 29, 2019. Thereafter, Mr. Calhoun will assume sole portfolio manager responsibilities for the fund.
The following information replaces similar information found in the Shareholder Information section under the General Information heading.
You may buy or sell shares through a retirement account or an investment professional. When you invest through a retirement account or an investment professional, the procedures for buying, selling, and exchanging shares and the account features, policies, and fees may differ. Additional fees may apply to your investment in shares, including a transaction fee if you buy or sell shares through a broker or other investment professional. Your broker may also require you to pay brokerage commissions on purchases and sales of certain share classes of the fund.
The following information supplements information found in the Shareholder Information section under the Additional Information Regarding Class I Eligibility heading.
10. Investors who purchase shares through brokerage programs of certain brokers acting solely as agents for their customers and that have entered into an agreement with the distributor to offer Class I shares through such programs. An investor transacting in such programs may be required to pay a commission and/or other forms of compensation to the broker.
Investors may be able to purchase Class I in other circumstances. Please contact Fidelity or your investment professional for more information about Class I shares.
For funds offering Class Z, the following information supplements information found in the Shareholder Information section under the Additional Information Regarding Class Z Eligibility heading.
3. Investors who purchase shares through brokerage programs of certain brokers acting solely as agents for their customers and that have entered into an agreement with the distributor to offer Class Z shares through such programs. An investor transacting in such programs may be required to pay a commission and/or other forms of compensation to the broker.
Investors may be able to purchase Class Z in other circumstances. Please contact Fidelity or your investment professional for more information about Class Z shares.
The following information updates the policies discussed in the Shareholder Information section.
Conversion Feature. After a maximum of 10 years from the initial date of purchase, Class C shares convert automatically to Class A shares of the fund. Conversion to Class A shares will be made at NAV. At the time of conversion, a portion of the Class C shares bought through the reinvestment of dividends or capital gains (Dividend Shares) will also convert to Class A shares. The portion of Dividend Shares that will convert is determined by the ratio of your converting Class C non-Dividend Shares to your total Class C non-Dividend Shares. The fund may convert shares sooner in certain circumstances. A shorter holding period may also apply depending on your intermediary. Please see Sales Charge Waiver Policies Applied by Certain Intermediaries in the Appendix section of this prospectus. The policy will be effective March 1, 2019, however, prior to this date, or such other date as may be determined by the Adviser, the fund will permit an intermediary to transition Class C shares to Class A shares of the same fund, regardless of holding period, if the intermediary is unable to administer this conversion policy. Such transitions to Class A shares will be made at NAV minus any applicable CDSC.
The following information supplements information found in the Appendix section under the Sales Charge Waiver Policies Applied by Certain Intermediaries heading.
AMERIPRISE
Class A Shares Front-End Sales Charge Waivers Available at Ameriprise Financial:
The following information applies to Class A shares purchases if you have an account with or otherwise purchase Fund shares through Ameriprise Financial:
Effective June 1, 2018, shareholders purchasing Fund shares through an Ameriprise Financial [platform or] account will be eligible for the following front-end sales charge waivers and discounts, which may differ from those disclosed elsewhere in this Funds prospectus or SAI:
MORGAN STANLEY
Effective July 1, 2018, shareholders purchasing Fund shares through a Morgan Stanley Wealth Management transactional brokerage account will be eligible only for the following front-end sales charge waivers with respect to Class A shares, which may differ from and may be more limited than those disclosed elsewhere in this Funds Prospectus or SAI.
Front-end Sales Charge Waivers on Class A Shares available at Morgan Stanley Wealth Management
Effective October 1, 2018, the following information replaces the biographical information found in the "Fund Management" section under the "Portfolio Manager(s)" heading.
Joe Wickwire is lead portfolio manager of the fund, which he has managed since August 2007. He also manages other funds. Since joining Fidelity Investments in 2007, Mr. Wickwire has worked as a research analyst and portfolio manager.
Steve Calhoun is co-manager of the fund, which he has managed since October 2018. Since joining Fidelity Investments in 1994, Mr. Calhoun has worked as research analyst and portfolio manager.
It is expected that Mr. Wickwire will retire effective as of the close of business on or about March 29, 2019. Thereafter, Mr. Calhoun will assume sole portfolio manager responsibilities for the fund.
AGLD-18-02 1.847523.128 | September 24, 2018 |
Supplement to the
Fidelity® Select Portfolios®
Materials Sector
April 28, 2018
Prospectus
Effective October 1, 2018, the following information replaces similar information for Gold Portfolio found in the "Fund Summary" section under the "Portfolio Manager(s)" heading.
Joe Wickwire (lead portfolio manager) has managed the fund since August 2007.
Steve Calhoun (co-manager) has managed the fund since October 2018.
It is expected that Mr. Wickwire will retire effective as of the close of business on or about March 29, 2019. Thereafter, Mr. Calhoun will assume sole portfolio manager responsibilities for the fund.
Effective October 1, 2018, the following information replaces the biographical information for Gold Portfolio found in the "Fund Management" section under the "Portfolio Manager(s)" heading.
Joe Wickwire is lead portfolio manager of Gold Portfolio, which he has managed since August 2007. He also manages other funds. Since joining Fidelity Investments in 2007, Mr. Wickwire has worked as a research analyst and portfolio manager.
Steve Calhoun is co-manager of Gold Portfolio, which he has managed since October 2018. Since joining Fidelity Investments in 1994, Mr. Calhoun has worked as research analyst and portfolio manager.
It is expected that Mr. Wickwire will retire effective as of the close of business on or about March 29, 2019. Thereafter, Mr. Calhoun will assume sole portfolio manager responsibilities for the fund.
SELMT-18-01 1.918620.113 | September 24, 2018 |