0001379491-17-008251.txt : 20171215 0001379491-17-008251.hdr.sgml : 20171215 20171215112516 ACCESSION NUMBER: 0001379491-17-008251 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20171215 DATE AS OF CHANGE: 20171215 EFFECTIVENESS DATE: 20171215 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIDELITY HASTINGS STREET TRUST CENTRAL INDEX KEY: 0000035348 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-11517 FILM NUMBER: 171258093 BUSINESS ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02110 BUSINESS PHONE: 617-563-7000 MAIL ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02110 FORMER COMPANY: FORMER CONFORMED NAME: FIDELITY FUND DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: FIDELITY FUND INC DATE OF NAME CHANGE: 19851205 0000035348 S000007019 Fidelity Growth Discovery Fund C000019191 Fidelity Growth Discovery Fund FDSVX 0000035348 S000007021 Fidelity Fund C000019193 Fidelity Fund FFIDX 0000035348 S000007022 Fidelity Mega Cap Stock Fund C000019194 Fidelity Mega Cap Stock Fund FGRTX C000059099 Fidelity Advisor Mega Cap Stock Fund: Class A FGTAX C000059101 Fidelity Advisor Mega Cap Stock Fund: Class C FGRCX C000059102 Fidelity Advisor Mega Cap Stock Fund: Class M FTGRX C000059103 Fidelity Advisor Mega Cap Stock Fund: Class I FTRIX C000130146 Fidelity Advisor Mega Cap Stock Fund: Class Z FZALX 497 1 filing906.htm PRIMARY DOCUMENT

Supplement to the
Fidelity® Fund, Fidelity® Growth Discovery Fund and Fidelity® Mega Cap Stock Fund
August 29, 2017
STATEMENT OF ADDITIONAL INFORMATION

Matthew Fruhan serves as lead portfolio manager of Fidelity® Mega Cap Stock Fund. Ashley Fernandes serves as co-manager of Fidelity® Mega Cap Stock Fund.

Jason Weiner serves as lead portfolio manager of Fidelity® Growth Discovery Fund. Asher Anolic serves as co-manager of Fidelity® Growth Discovery Fund.

The following information supplements information for Fidelity® Mega Cap Stock Fund found in the "Management Contracts" section.

Ashley Fernandes is a research analyst and a co-manager of Fidelity® Mega Cap Stock Fund and receives compensation for his services as a research analyst and as a portfolio manager under a single compensation plan. As of October 31, 2017, the portfolio manager’s compensation generally consists of a fixed base salary determined periodically (typically annually), a bonus, in certain cases, participation in several types of equity-based compensation plans, and, if applicable, relocation plan benefits. A portion of the portfolio manager’s compensation may be deferred based on criteria established by FMR or at the election of the portfolio manager.

Mr. Fernandes’ base salary is determined primarily by level of experience and skills, and performance as a research analyst and fund manager at FMR or its affiliates. A portion of the portfolio manager’s bonus relates to his performance as a research analyst and is based on the Director of Research’s assessment of the research analyst’s performance and may include factors such as portfolio manager survey-based assessments, which relate to analytical work and investment results within the relevant market(s) and impact on other equity funds and accounts as a research analyst, and the research analyst’s contributions to the research groups and to FMR. Another component of the bonus is based upon (i) the pre-tax investment performance of the portfolio manager’s fund(s) and account(s) measured against a benchmark index (which may be a customized industry benchmark index developed by FMR) and within a defined peer group, if applicable, assigned to each fund or account, (ii) the pre-tax investment performance of the research analyst’s recommendations measured against a benchmark index corresponding to the research analyst’s assignment universe and against a broadly diversified equity index, and (iii) the investment performance of other FMR equity funds and accounts within the research analyst’s designated team. The pre-tax investment performance of the portfolio manager’s fund(s) and account(s) is weighted according to the portfolio manager’s tenure on those fund(s) and account(s). The component of the bonus relating to the Director of Research’s assessment is calculated over a one-year period, and each other component of the bonus is calculated over a measurement period that initially is contemporaneous with the portfolio manager’s tenure, but that eventually encompasses rolling periods of up to five years for the comparison to a benchmark index and rolling periods of up to three years for the comparison to a peer group, if applicable. The portion of the portfolio manager’s bonus that is linked to the investment performance of Fidelity® Mega Cap Stock Fund is based on the pre-tax investment performance of the fund measured against the Russell Top 200® Index. The portfolio manager also is compensated under equity-based compensation plans linked to increases or decreases in the net asset value of the stock of FMR LLC, FMR’s parent company. FMR LLC is a diverse financial services company engaged in various activities that include fund management, brokerage, retirement, and employer administrative services. If requested to relocate their primary residence, portfolio managers also may be eligible to receive benefits, such as home sale assistance and payment of certain moving expenses, under relocation plans for most full-time employees of FMR LLC and its affiliates.

The portfolio manager’s compensation plan may give rise to potential conflicts of interest. The portfolio manager’s compensation is linked to the pre-tax performance of the fund, rather than its after-tax performance. The portfolio manager’s base pay and bonus opportunity tend to increase with a portfolio manager’s level of experience and skills relative to research and fund assignments. The management of multiple funds and accounts (including proprietary accounts) may give rise to potential conflicts of interest if the funds and accounts have different objectives, benchmarks, time horizons, and fees as the portfolio manager must allocate his time and investment ideas across multiple funds and accounts. In addition, the fund’s trade allocation policies and procedures may give rise to conflicts of interest if the fund’s orders do not get fully executed due to being aggregated with those of other accounts managed by FMR. The portfolio manager may execute transactions for another fund or account that may adversely impact the value of securities held by the fund. Securities selected for other funds or accounts may outperform the securities selected for the fund. Trading in personal accounts, which may give rise to potential conflicts of interest, is restricted by a fund’s Code of Ethics. Furthermore, the potential exists that the portfolio manager’s responsibilities as a portfolio manager of the fund may not be entirely consistent with his responsibilities as a research analyst providing recommendations to other Fidelity portfolio managers.

The following table provides information relating to other accounts managed by Mr. Fernandes as of October 31, 2017:

 Registered
Investment
Companies* 		Other Pooled
Investment
Vehicles 		Other
Accounts 
Number of Accounts Managed 2 1 none 
Number of Accounts Managed with Performance-Based Advisory Fees none none none 
Assets Managed (in millions) $2,386 $3 none 
Assets Managed with Performance-Based Advisory Fees (in millions) none none none 

* Includes Fidelity® Mega Cap Stock Fund ($2,177 (in millions) assets managed).

As of October 31, 2017, the dollar range of shares of Fidelity® Mega Cap Stock Fund beneficially owned by Mr. Fernandes was none.

The following information supplements information for Fidelity® Growth Discovery Fund found in the "Management Contracts" section.

The following table provides information relating to other accounts managed by Mr. Anolic as of July 31, 2017:

 Registered
Investment
Companies* 		Other Pooled
Investment
Vehicles 		Other
Accounts 
Number of Accounts Managed 5 1 none 
Number of Accounts Managed with Performance-Based Advisory Fees 2 none none 
Assets Managed (in millions) $11,365 $34 none 
Assets Managed with Performance-Based Advisory Fees (in millions) $2,380 none none 

* Includes Fidelity® Growth Discovery Fund ($1,469 (in millions) assets managed).

As of July 31, 2017, the dollar range of shares of Fidelity® Growth Discovery Fund beneficially owned by Mr. Anolic was none.


HSTB-17-04
1.798959.121
December 15, 2017

Supplement to the
Fidelity® Mega Cap Stock Fund
Class A, Class M, Class C, Class I and Class Z
August 29, 2017
STATEMENT OF ADDITIONAL INFORMATION

Matthew Fruhan serves as lead portfolio manager of the fund. Ashley Fernandes serves as co-manager of the fund.

The following information supplements information found in the "Management Contract" section.

Ashley Fernandes is a research analyst and a co-manager of Fidelity® Mega Cap Stock Fund and receives compensation for his services as a research analyst and as a portfolio manager under a single compensation plan. As of October 31, 2017, the portfolio manager’s compensation generally consists of a fixed base salary determined periodically (typically annually), a bonus, in certain cases, participation in several types of equity-based compensation plans, and, if applicable, relocation plan benefits. A portion of the portfolio manager’s compensation may be deferred based on criteria established by FMR or at the election of the portfolio manager.

Mr. Fernandes’ base salary is determined primarily by level of experience and skills, and performance as a research analyst and fund manager at FMR or its affiliates. A portion of the portfolio manager’s bonus relates to his performance as a research analyst and is based on the Director of Research’s assessment of the research analyst’s performance and may include factors such as portfolio manager survey-based assessments, which relate to analytical work and investment results within the relevant market(s) and impact on other equity funds and accounts as a research analyst, and the research analyst’s contributions to the research groups and to FMR. Another component of the bonus is based upon (i) the pre-tax investment performance of the portfolio manager’s fund(s) and account(s) measured against a benchmark index (which may be a customized industry benchmark index developed by FMR) and within a defined peer group, if applicable, assigned to each fund or account, (ii) the pre-tax investment performance of the research analyst’s recommendations measured against a benchmark index corresponding to the research analyst’s assignment universe and against a broadly diversified equity index, and (iii) the investment performance of other FMR equity funds and accounts within the research analyst’s designated team. The pre-tax investment performance of the portfolio manager’s fund(s) and account(s) is weighted according to the portfolio manager’s tenure on those fund(s) and account(s). The component of the bonus relating to the Director of Research’s assessment is calculated over a one-year period, and each other component of the bonus is calculated over a measurement period that initially is contemporaneous with the portfolio manager’s tenure, but that eventually encompasses rolling periods of up to five years for the comparison to a benchmark index and rolling periods of up to three years for the comparison to a peer group, if applicable. The portion of the portfolio manager’s bonus that is linked to the investment performance of Fidelity® Mega Cap Stock Fund is based on the pre-tax investment performance of the fund measured against the Russell Top 200® Index. The portfolio manager also is compensated under equity-based compensation plans linked to increases or decreases in the net asset value of the stock of FMR LLC, FMR’s parent company. FMR LLC is a diverse financial services company engaged in various activities that include fund management, brokerage, retirement, and employer administrative services. If requested to relocate their primary residence, portfolio managers also may be eligible to receive benefits, such as home sale assistance and payment of certain moving expenses, under relocation plans for most full-time employees of FMR LLC and its affiliates.

The portfolio manager’s compensation plan may give rise to potential conflicts of interest. The portfolio manager’s compensation is linked to the pre-tax performance of the fund, rather than its after-tax performance. The portfolio manager’s base pay and bonus opportunity tend to increase with a portfolio manager’s level of experience and skills relative to research and fund assignments. The management of multiple funds and accounts (including proprietary accounts) may give rise to potential conflicts of interest if the funds and accounts have different objectives, benchmarks, time horizons, and fees as the portfolio manager must allocate his time and investment ideas across multiple funds and accounts. In addition, the fund’s trade allocation policies and procedures may give rise to conflicts of interest if the fund’s orders do not get fully executed due to being aggregated with those of other accounts managed by FMR. The portfolio manager may execute transactions for another fund or account that may adversely impact the value of securities held by the fund. Securities selected for other funds or accounts may outperform the securities selected for the fund. Trading in personal accounts, which may give rise to potential conflicts of interest, is restricted by a fund’s Code of Ethics. Furthermore, the potential exists that the portfolio manager’s responsibilities as a portfolio manager of the fund may not be entirely consistent with his responsibilities as a research analyst providing recommendations to other Fidelity portfolio managers.

The following table provides information relating to other accounts managed by Mr. Fernandes as of October 31, 2017:

 Registered
Investment
Companies* 		Other Pooled
Investment
Vehicles 		Other
Accounts 
Number of Accounts Managed 2 1 none 
Number of Accounts Managed with Performance-Based Advisory Fees none none none 
Assets Managed (in millions) $2,386 $3 none 
Assets Managed with Performance-Based Advisory Fees (in millions) none none none 

* Includes Fidelity® Mega Cap Stock Fund ($2,177 (in millions) assets managed).

As of October 31, 2017, the dollar range of shares of Fidelity® Mega Cap Stock Fund beneficially owned by Mr. Fernandes was none.


AGII-AGIIIB-17-02
1.881212.110
December 15, 2017