0001379491-21-002233.txt : 20210526 0001379491-21-002233.hdr.sgml : 20210526 20210526105409 ACCESSION NUMBER: 0001379491-21-002233 CONFORMED SUBMISSION TYPE: 497K PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20210526 DATE AS OF CHANGE: 20210526 EFFECTIVENESS DATE: 20210526 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIDELITY SELECT PORTFOLIOS CENTRAL INDEX KEY: 0000320351 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: 21963639 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 S000007467 Consumer Finance Portfolio C000020441 Consumer Finance Portfolio FSVLX 497K 1 filing702613528.htm

Supplement to the
Fidelity® Select Portfolios®
Consumer Finance Portfolio
April 29, 2021
Summary Prospectus

At its May 2021 meeting, the Board of Trustees (“Board”) approved changes to the name and investment policy of the Consumer Finance Portfolio (“Fund”). Effective October 23, 2021 the Fund will (i) change its name to FinTech Portfolio, (ii) change its 80% policy to normally invest at least 80% of assets in securities of companies providing products and services in fintech, and (iii) change its supplemental benchmark index to the FactSet Financial Technologies Index.

Effective October 23, 2021, the following information replaces similar information for Consumer Finance Portfolio found in the “Fund Summary” section under the heading “Principal Investment Strategies”.

  • Normally investing at least 80% of assets in securities of companies providing products and services in fintech.

At its May 2021 meeting, the Board also approved, subject to shareholder approval, a proposal to modify the Fund’s fundamental concentration policy. A meeting of the shareholders of the Fund will be held during the fourth quarter of 2021, to vote on this proposal. If approved by shareholders, the fundamental concentration policy will be modified to align with the new fund name. If approved, the changes will take effect on October 23, 2021. The changes to the Fund’s name and investment policy discussed above are not subject to shareholder approval and are expected to take effect on October 23, 2021 even if shareholders do not approve the proposed change to the concentration policy.

Shareholders should read the proxy statement, which contains important information about the concentration policy proposal, when it becomes available. For a free copy of the proxy statement, please contact Fidelity at 1-800-544-8544. The proxy statement will also be available on the Securities and Exchange Commission’s web site (www.sec. gov). Results of the shareholder meeting will appear in the fund’s next shareholder report.


SAV-SUM-21-02
1.9886533.103 		May 26, 2021