Fidelity Asset Manager® 85%
Class/Ticker
Fidelity Advisor Asset Manager® 85% Institutional/FEYIX
Summary Prospectus
November 29, 2012
As Revised January 2, 2013
Fund/Class:
Fidelity Asset Manager® 85%/Fidelity Advisor Asset Manager® 85% Institutional
The fund seeks to maximize total return over the long term by allocating its assets among stocks, bonds, short-term instruments, and other investments.
The following table describes the fees and expenses that may be incurred when you buy, hold, or sell shares of the fund.
Shareholder fees |
None |
Annual class operating expenses
(expenses that you pay each year as a % of the value of your investment)
Management fee |
0.56% |
Distribution and/or Service (12b-1) fees |
None |
Other expenses |
0.25% |
Acquired fund fees and expenses |
0.01% |
Total annual operating expensesA |
0.82% |
A Differs from the ratios of expenses to average net assets in the Financial Highlights section of the prospectus because of acquired fund fees and expenses.
This example helps compare the cost of investing in the fund with the cost of investing in other mutual funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:
1 year |
$ 84 |
3 years |
$ 262 |
5 years |
$ 455 |
10 years |
$ 1,014 |
The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 21% of the average value of its portfolio.
Summary Prospectus
Summary Prospectus
Fund Summary - continued
An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.
The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index and a hypothetical composite of market indexes over various periods of time. The indexes have characteristics relevant to the fund's investment strategies. Index descriptions appear in the Additional Information about the Indexes section of the prospectus. Past performance (before and after taxes) is not an indication of future performance.
Visit www.advisor.fidelity.com for updated return information.
Calendar Years |
|
|
|
|
|
2007 |
2008 |
2009 |
2010 |
2011 |
|
|
|
|
|
|
8.03% |
-38.52% |
38.81% |
16.55% |
-6.03% |
During the periods shown in the chart: |
Returns |
Quarter ended |
Highest Quarter Return |
20.88% |
June 30, 2009 |
Lowest Quarter Return |
-20.91% |
December 31, 2008 |
Year-to-Date Return |
14.16% |
September 30, 2012 |
After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement. Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares.
Summary Prospectus
For the periods ended |
Past 1 |
Past 5 |
Life of |
Institutional Class |
|
|
|
Return Before Taxes |
-6.03% |
0.19% |
1.39% |
Return After Taxes on Distributions |
-6.28% |
-0.18% |
0.96% |
Return After Taxes on Distributions and Sale of Fund Shares |
-3.67% |
0.03% |
1.04% |
S&P 500® Index |
2.11% |
-0.25% |
1.07% |
Fidelity Asset Manager 85% Composite IndexSM |
-1.17% |
0.20% |
1.48% |
A From October 2, 2006.
Fidelity Management & Research Company (FMR) is the fund's manager. Fidelity Investments Money Management, Inc. (FIMM), FMR Co., Inc. (FMRC), and other investment advisers serve as sub-advisers for the fund.
Geoff Stein (portfolio manager) has managed the fund since June 2009.
Institutional Class eligibility requirements are listed in the Additional Information about the Purchase and Sale of Shares section of the prospectus.
You may buy or sell Institutional Class shares of the fund through a retirement account or through an investment professional. You may buy or sell shares in various ways:
Internet www.advisor.fidelity.com |
|
Phone To reach a Fidelity representative 1-877-208-0098 |
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|
|
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Overnight Express: |
The price to buy one share of Institutional Class is its net asset value per share (NAV). Your shares will be bought at the NAV next calculated after your order is received in proper form.
The price to sell one share of Institutional Class is its NAV. Your shares will be sold at the NAV next calculated after your order is received in proper form.
The fund is open for business each day the New York Stock Exchange (NYSE) is open.
Summary Prospectus
Fund Summary - continued
Initial Purchase Minimum |
$2,500 |
For Fidelity Advisor® Traditional IRA, Roth IRA, Rollover IRA, Simplified Employee Pension-IRA, and Keogh accounts |
$500 |
Through a regular investment plan established at the time the fund position is opened |
$100 |
The fund may waive or lower purchase minimums in other circumstances.
Distributions you receive from the fund are subject to federal income tax and generally will be taxed as ordinary income or capital gains, and may also be subject to state or local taxes, unless you are investing through a tax-advantaged retirement account (in which case you may be taxed later, upon withdrawal of your investment from such account).
The fund, FMR, Fidelity Distributors Corporation (FDC), and/or their affiliates may pay intermediaries, including banks, broker-dealers, or other service-providers (who may be affiliated with FMR or FDC), for the sale of fund shares and related services. These payments may create a conflict of interest by influencing your intermediary and your investment professional to recommend the fund over another investment. Ask your investment professional or visit your intermediary's web site for more information.
Summary Prospectus
FDC is a member of the Securities Investor Protection Corporation (SIPC). You may obtain information about SIPC, including the SIPC brochure, by visiting www.sipc.org or calling SIPC at 202-371-8300.
Fidelity Asset Manager, Fidelity Advisor Asset Manager, Fidelity Investments & Pyramid Design, and Fidelity Advisor are registered service marks of FMR LLC. © 2013 FMR LLC. All rights reserved.
Fidelity Asset Manager 85% Composite Index is a service mark of FMR LLC.
The third-party marks appearing above are the marks of their respective owners.
1.920222.103 AAM-85I-SUM-1112-01
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