0001133228-24-005496.txt : 20240522 0001133228-24-005496.hdr.sgml : 20240522 20240522095036 ACCESSION NUMBER: 0001133228-24-005496 CONFORMED SUBMISSION TYPE: 497K PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240522 DATE AS OF CHANGE: 20240522 EFFECTIVENESS DATE: 20240522 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIDELITY MT VERNON STREET TRUST CENTRAL INDEX KEY: 0000707823 ORGANIZATION NAME: IRS NUMBER: 000000000 FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: 497K SEC ACT: 1933 Act SEC FILE NUMBER: 002-79755 FILM NUMBER: 24971821 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 FORMER COMPANY: FORMER CONFORMED NAME: FIDELITY GROWTH COMPANY FUND DATE OF NAME CHANGE: 19910110 FORMER COMPANY: FORMER CONFORMED NAME: FIDELITY MERCURY FUND DATE OF NAME CHANGE: 19861216 0000707823 S000007118 Fidelity Growth Strategies Fund C000019447 Fidelity Growth Strategies Fund FDEGX C000064241 Class K FAGKX 497K 1 fgsf-html7952_497k.htm FIDELITY GROWTH STRATEGIES FUND - 497K
Supplement to the
Fidelity® Growth Strategies Fund
January 29, 2024
Summary Prospectus
Jean Park no longer serves as Portfolio Manager of the fund.
The following information replaces similar information found in the “Fund Summary” section under the “Portfolio Manager(s)” heading.
Shilpa Mehra (Portfolio Manager) has managed the fund since 2024.
Effective March 1, 2024, the fund’s management contract was amended to incorporate administrative services previously covered under separate services agreements. The amended contract incorporates a basic fee rate that may vary by class (subject to a performance adjustment). The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class’s management fee.
The following information replaces similar information found in the “Fund Summary” section under the “Fee Table” heading.
Annual Operating Expenses
(expenses that you pay each year as a % of the value of your investment)
 
 
 
 
Management fee (fluctuates based on the fund’s performance
relative to a securities market index)
 
 
0.69%A,B
Distribution and/or Service (12b-1) fees
 
 
None
Other expenses
 
 
0.01%B
Total annual operating expenses
 
 
0.70%
 
 
 
 
A The management fee comprises a basic fee, which may vary by class, that is adjusted up or down (subject to a maximum rate) based on the performance of the fund or a designated class of the fund relative to that of the Russell Midcap® Growth Index. The basic fee covers administrative services previously provided under separate services agreements with the fund, for which 0.18% was previously charged under the services agreements. Please see “Fund Services - Fund Management - Advisory Fee(s)” for additional information.
B Adjusted to reflect current fees.
 
 
 
 
1 year
 
 
$ 72
3 years
 
 
$ 224
5 years
 
 
$ 390
10 years
 
 
$ 871
 
 
 
 
 
 
 
 
FEG-SUSTK-0524-102
 
 
May 22, 2024
1.9880491.102
 
 
 
 
 
 
 
Supplement to the
Fidelity® Growth Strategies Fund
Class K
January 29, 2024
Summary Prospectus
Jean Park no longer serves as Portfolio Manager of the fund.
The following information replaces similar information found in the “Fund Summary” section under the “Portfolio Manager(s)” heading.
Shilpa Mehra (Portfolio Manager) has managed the fund since 2024.
Effective March 1, 2024, the fund’s management contract was amended to incorporate administrative services previously covered under separate services agreements. The amended contract incorporates a basic fee rate that may vary by class (subject to a performance adjustment). The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class’s management fee.
The following information replaces similar information found in the “Fund Summary” section under the “Fee Table” heading.
Annual Operating Expenses
(expenses that you pay each year as a % of the value of your investment)
 
 
 
 
Management fee (fluctuates based on the fund’s performance
relative to a securities market index)
 
 
0.60%A,B
Distribution and/or Service (12b-1) fees
 
 
None
Other expenses
 
 
0.01%B
Total annual operating expenses
 
 
0.61%
 
 
 
 
A The management fee comprises a basic fee, which may vary by class, that is adjusted up or down (subject to a maximum rate) based on the performance of the fund or a designated class of the fund relative to that of the Russell Midcap® Growth Index. The basic fee covers administrative services previously provided under separate services agreements with the fund, for which 0.07% was previously charged under the services agreements. Please see “Fund Services - Fund Management - Advisory Fee(s)” for additional information.
B Adjusted to reflect current fees.
 
 
 
 
1 year
 
 
$ 62
3 years
 
 
$ 195
5 years
 
 
$ 340
10 years
 
 
$ 762
 
 
 
 
 
 
 
 
FEG-K-SUSTK-0524-102
 
 
May 22, 2024
1.9880492.102