This
example
helps compare the cost of investing in the fund with the cost of investing in
other funds.
Let's say, hypothetically, that the annual return for shares
of the fund is 5% and that the 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 |
$ |
44 |
|
3
years |
$ |
138 |
|
5
years |
$ |
241 |
|
10
years |
$ |
542 |
Portfolio
Turnover
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 29%
of the average value of its portfolio.
Principal
Investment Strategies
- Investing
approximately 60% of assets in stocks and other equity securities and the
remainder in bonds and other debt securities, including lower-quality debt
securities (those of less than investment-grade quality, also referred to as
high yield debt securities or junk bonds), when its outlook is neutral.
- Investing
at least 25% of total assets in fixed-income senior securities.
- Investing
in domestic and foreign issuers.
- With
respect to the fund's equity investments, allocating the fund's assets across
different market sectors (at present, communication services, consumer
discretionary, consumer staples, energy, financials, health care, industrials,
information technology, materials, real estate, and utilities), using
different Fidelity managers.
- With
respect to the fund's equity investments, investing in either "growth" stocks
or "value" stocks or both.
- Using
fundamental analysis of factors such as each issuer's financial condition and
industry position, as well as market and economic conditions, to select
investments.
- Investing
in Fidelity's Central funds (specialized investment vehicles used by
Fidelity®
funds to invest in particular security types or investment disciplines)
consistent with the asset classes discussed above.
Principal
Investment Risks
Stock
markets are volatile and can decline significantly in response to adverse
issuer, political, regulatory, market, or economic developments. Different parts
of the market, including different market sectors, and different types of
securities can react differently to these developments.
Interest
rate increases can cause the price of a debt security to decrease.
Foreign
markets can be more volatile than the U.S. market due to increased risks of
adverse issuer, political, regulatory, market, or economic developments and can
perform differently from the U.S. market.
The
ability of an issuer of a debt security to repay principal prior to a security's
maturity can cause greater price volatility if interest rates
change.
The
value of an individual security or particular type of security can be more
volatile than, and can perform differently from, the market as a
whole.
Lower-quality
debt securities (those of less than investment-grade quality, also referred to
as high yield debt securities or junk bonds) and certain types of other
securities involve greater risk of default or price changes due to changes in
the credit quality of the issuer.
The
value of lower-quality debt securities and certain types of other securities can
be more volatile due to increased sensitivity to adverse issuer, political,
regulatory, market, or economic developments.
"Growth"
stocks can perform differently from the market as a whole and other types of
stocks and can be more volatile than other types of stocks.
"Value"
stocks can perform differently from the market as a whole and other types of
stocks and can continue to be undervalued by the market for long periods of
time.
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.
Performance
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 Index Information" section of the
prospectus.
Past performance is not an indication of future
performance.
Visit
www.401k.com and
log in for more recent performance information.
Year-by-Year
Returns
|
|
2013 |
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
|
|
20.64%
|
10.52%
|
0.50%
|
7.12%
|
16.60%
|
-3.94%
|
24.48%
|
22.48%
|
18.41%
|
-18.12%
|
|
During
the periods shown in the chart: |
Returns |
Quarter
ended |
|
Highest
Quarter Return |
18.37% |
June
30, 2020 |
|
Lowest
Quarter Return |
-13.83% |
June
30, 2022 |
|
Year-to-Date
Return |
10.76% |
September
30, 2023 |
Average
Annual Returns
|
For
the periods ended December 31, 2022 |
Past
1
year
|
Past
5
years
|
Past
10
years
|
|
Class
K |
-18.12% |
7.27% |
9.04% |
|
S&P
500® Index
(reflects
no deduction for fees, expenses, or taxes) |
-18.11% |
9.42% |
12.56% |
|
Fidelity
Balanced Hybrid Composite Index℠
(reflects
no deduction for fees, expenses, or taxes) |
-15.79% |
5.96% |
8.08% |
|
|
|
|
|
Investment
Adviser
Fidelity
Management & Research Company LLC (FMR) (the Adviser) is the fund's manager.
Fidelity Management & Research (Hong Kong) Limited and other investment
advisers serve as sub-advisers for the fund.
Portfolio
Manager(s)
Steven
Kaye (Co-Portfolio Manager) has managed the fund since 2008.
Douglas
Simmons (Co-Portfolio Manager) has managed the fund since 2008.
Pierre
Sorel (Co-Portfolio Manager) has managed the fund since 2008.
Nicola
Stafford (Co-Portfolio Manager) has managed the fund since 2017.
Ashley
Fernandes (Co-Portfolio Manager) has managed the fund since 2020.
Melissa
Reilly (Co-Portfolio Manager) has managed the fund since 2020.
Priyanshu
Bakshi (Co-Portfolio Manager) has managed the fund since 2022.
Matthew
Drukker (Co-Portfolio Manager) has managed the fund since 2022.
Ali
Khan (Co-Portfolio Manager) has managed the fund since 2022.
Chad
Colman (Co-Portfolio Manager) has managed the fund since 2022.
Christopher
Lee (Co-Portfolio Manager) has managed the fund since 2022.
Purchase
and Sale of Shares
Shares
generally are available only to certain employer-sponsored retirement plans and
certain Fidelity health savings accounts that are made available through
employers. For this purpose, employer-sponsored retirement plans generally
include profit sharing, 401(k), 403(b), 457(b), defined benefit, retiree health
savings plans, and similar plans, but generally do not include: retail
retirement or non-retirement accounts; Individual Retirement Accounts (IRAs)
(such as traditional, Roth, SEP, SARSEP, and SIMPLE IRAs); Coverdell Education
Savings Accounts; individual 403(b) accounts that are not part of an employer's
403(b) plan; plans investing through the Fidelity Advisor®
403(b) program; plans covering self-employed individuals and their employees
(formerly Keogh/H.R. 10 plans); health savings accounts; or qualified tuition
programs. Plan participants may purchase shares only if shares are eligible for
sale and available through their plan.
You
may buy or sell shares in various ways:
Internet
www.401k.com
Phone
For
Individual Accounts (investing through a retirement plan sponsor or other
institution), refer to your plan materials or contact that institution
directly.
For
Retirement Plan Level Accounts:
Corporate
Clients 1-800-962-1375
"Not
for Profit" Clients 1-800-343-0860
Mail
|
Redemptions:
Fidelity
Investments
P.O.
Box 770001
Cincinnati,
OH 45277-0035 |
Overnight
Express:
Fidelity
Investments
100
Crosby Parkway
Covington,
KY 41015 |
TDD
- Service
for the Deaf and Hearing Impaired
1-800-544-0118
Shares
of the fund are not eligible for purchase by registered investment companies or
business development companies to the extent such acquisition is in reliance on
Rule 12d1-4 under the Investment Company Act of 1940.
The
price to buy one share is its net asset value per share (NAV). Shares will be
bought at the NAV next calculated after an order is received in proper
form.
The
price to sell one share is its NAV. Shares will be sold at the NAV next
calculated after an order is received in proper form.
The
fund is open for business each day the New York Stock Exchange (NYSE) is
open.
There
is no purchase minimum for fund shares.
Tax
Information
Distributions
by the fund to tax-advantaged retirement plan accounts are not taxable currently
(but you may be taxed later, upon withdrawal of your investment from such
account).
Payments
to Broker-Dealers and Other Financial Intermediaries
The
fund, the Adviser, Fidelity Distributors Company LLC (FDC), and/or their
affiliates may pay intermediaries, which may include banks, broker-dealers,
retirement plan sponsors, administrators, or service-providers (who may be
affiliated with the Adviser 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.
Fund
Basics
Investment
Objective
Fidelity®
Balanced Fund seeks income and capital growth consistent with reasonable
risk.
Principal
Investment Strategies
The
Adviser manages the fund to maintain a balance between stocks and bonds. When
the Adviser's outlook is neutral, it will invest approximately 60% of the fund's
assets in stocks and other equity securities and the remainder in bonds and
other debt securities, including lower-quality debt securities (those of less
than investment-grade quality, also referred to as high yield debt securities or
junk bonds). The Adviser may vary from this target if it believes stocks or
bonds offer more favorable opportunities, but will always invest at least 25% of
the fund's total assets in fixed-income senior securities.
The
Adviser may invest the fund's assets in securities of foreign issuers in
addition to securities of domestic issuers.
The
Adviser allocates the equity portion of the fund's assets across different
market sectors, using different Fidelity managers to handle investments within
each sector. At present, these sectors include communication services, consumer
discretionary, consumer staples, energy, financials, health care, industrials,
information technology, materials, real estate, and utilities.
The
Adviser expects the fund's equity sector allocations will approximate the sector
weightings of the S&P 500®
Index, a broadly diversified measure of the performance of 500 common stocks
chosen for market size, liquidity, and industry group representation to
represent U.S. equity performance. While the Adviser may overweight or
underweight one or more sectors from time to time, the Adviser expects the
returns of the equity portion of the fund to be driven primarily by the security
selections of the managers of each sector.
With
respect to the fund's equity investments, the Adviser is not constrained by any
particular investment style. At any given time, the Adviser may tend to buy
"growth" stocks or "value" stocks, or a combination of both types. In buying and
selling securities for the fund, the Adviser relies on fundamental analysis,
which involves a bottom-up assessment of a company's potential for success in
light of factors including its financial condition, earnings outlook, strategy,
management, industry position, and economic and market conditions.
The
Adviser uses Central funds to help invest the fund's assets. Central funds are
specialized investment vehicles designed to be used by Fidelity® funds.
Fidelity uses them to invest in particular security types or investment
disciplines; for example, rather than buy bonds directly, the fund may invest in
a Central fund that buys bonds. Fidelity does not charge any additional
management fees for Central funds.
If
the Adviser's strategies do not work as intended, the fund may not achieve its
objective.
Description
of Principal Security Types
Equity
securities
represent an ownership interest, or the right to acquire an ownership interest,
in an issuer. Different types of equity securities provide different voting and
dividend rights and priority in the event of the bankruptcy of the
issuer. Equity securities include common stocks, preferred stocks,
convertible securities, and warrants.
Debt
securities
are used by issuers to borrow money. The issuer usually pays a fixed, variable,
or floating rate of interest, and must repay the amount borrowed, usually at the
maturity of the security. Some debt securities, such as zero coupon bonds,
do not pay current interest but are sold at a discount from their face
values. Debt securities include corporate bonds, government securities
(including Treasury securities), repurchase agreements, money market securities,
mortgage and other asset-backed securities, loans and loan participations, and
other securities believed to have debt-like characteristics, including hybrids
and synthetic securities.
Derivatives
are
investments whose values are tied to an underlying asset, instrument, currency,
or index. Derivatives include futures, options, forwards, and swaps, such
as interest rate swaps (exchanging a floating rate for a fixed rate), total
return swaps (exchanging a floating rate for the total return of an index,
security, or other instrument or investment) and credit default swaps (buying or
selling credit default protection).
Forward-settling
securities
involve a commitment to purchase or sell specific securities when issued, or at
a predetermined price or yield. When a fund does not already own or have the
right to obtain securities equivalent in kind and amount, a commitment to sell
securities is equivalent to a short sale. Payment and delivery take place after
the customary settlement period.
Central
funds are
special types of investment vehicles created by Fidelity for use by
Fidelity®
funds and other advisory clients. Central funds incur certain costs related to
their investment activity (such as custodial fees and expenses), but generally
do not pay additional management fees. The investment results of the portions of
the fund's assets invested in the Central funds will be based upon the
investment results of those funds.
Principal
Investment Risks
Many
factors affect the fund's performance. Developments that disrupt global
economies and financial markets, such as pandemics and epidemics, may magnify
factors that affect a fund's performance. The fund's share price changes daily
based on changes in market conditions and interest rates and in response to
other economic, political, or financial developments. The fund's reaction to
these developments will be affected by the types and maturities of securities in
which the fund invests, the financial condition, industry and economic sector,
and geographic location of an issuer, and the fund's level of investment in the
securities of that issuer. When you sell your shares they may be worth more or
less than what you paid for them, which means that you could lose money by
investing in the fund.
The
following factors can significantly affect the fund's performance:
Stock
Market Volatility.
The value of equity securities fluctuates in response to issuer, political,
market, and economic developments. Fluctuations, especially in foreign markets,
can be dramatic over the short as well as long term, and different parts of the
market, including different market sectors, and different types of equity
securities can react differently to these developments. For example, stocks of
companies in one sector can react differently from those in another, large cap
stocks can react differently from small cap stocks, and "growth" stocks can
react differently from "value" stocks. Issuer, political, or economic
developments can affect a single issuer, issuers within an industry or economic
sector or geographic region, or the market as a whole. Changes in the financial
condition of a single issuer can impact the market as a whole. Terrorism and
related geo-political risks have led, and may in the future lead, to increased
short-term market volatility and may have adverse long-term effects on world
economies and markets generally.
Interest
Rate Changes.
Debt securities, including money market securities, have varying levels of
sensitivity to changes in interest rates. In general, the price of a debt
security can fall when interest rates rise and can rise when interest rates
fall. Securities with longer maturities and certain types of securities, such as
mortgage securities and the securities of issuers in the financial services
sector, can be more sensitive to interest rate changes, meaning the longer the
maturity of a security, the greater the impact a change in interest rates could
have on the security's price. Short-term and long-term interest rates do not
necessarily move in the same amount or the same direction. Short-term securities
tend to react to changes in short-term interest rates, and long-term securities
tend to react to changes in long-term interest rates. Securities with floating
interest rates can be less sensitive to interest rate changes, but may decline
in value if their interest rates do not rise as much as interest rates in
general. Securities whose payment at maturity is based on the movement of all or
part of an index and inflation-protected debt securities may react differently
from other types of debt securities. In market environments where interest rates
are rising, issuers may be less willing or able to make principal and/or
interest payments on securities when due. Although
the transition process away from certain benchmark rates, including London
Interbank Offered Rate (LIBOR)
(an indicative measure of the average interest rate at which major global banks
could borrow from one another), has become increasingly well-defined, any
potential effects of the transition away from LIBOR
and other benchmark rates on financial markets, a fund or the financial
instruments in which a fund invests can be difficult to ascertain and may
adversely impact a fund's performance.
Foreign
Exposure.
Foreign securities, foreign currencies, and securities issued by U.S. entities
with substantial foreign operations can involve additional risks relating to
political, economic, or regulatory conditions in foreign countries. These risks
include fluctuations in foreign exchange rates; withholding or other taxes;
trading, settlement, custodial, and other operational risks; and the less
stringent investor protection and disclosure standards of some foreign markets.
All of these factors can make foreign investments, especially those in emerging
markets, more volatile and potentially less liquid than U.S. investments. In
addition, foreign markets can perform differently from the U.S.
market.
Global
economies and financial markets are becoming increasingly interconnected, which
increases the possibilities that conditions in one country or region might
adversely impact issuers or providers in, or foreign exchange rates with, a
different country or region.
Prepayment.
Many
types of debt securities, including mortgage securities, are subject to
prepayment risk. Prepayment risk occurs when the issuer of a security can repay
principal prior to the security's maturity. Securities subject to prepayment can
offer less potential for gains during a declining interest rate environment and
similar or greater potential for loss in a rising interest rate environment. In
addition, the potential impact of prepayment features on the price of a debt
security can be difficult to predict and result in greater
volatility.
Issuer-Specific
Changes.
Changes in the financial condition of an issuer or counterparty, changes in
specific economic or political conditions that affect a particular type of
security or issuer, and changes in general economic or political conditions can
increase the risk of default by an issuer or counterparty, which can affect a
security's or instrument's credit quality or value. The value of securities of
smaller, less well-known issuers can be more volatile than that of larger
issuers. Lower-quality debt securities (those of less than investment-grade
quality, also referred to as high yield debt securities or junk bonds) and
certain types of other securities tend to be particularly sensitive to these
changes.
Lower-quality
debt securities and certain types of other securities involve greater risk of
default or price changes due to changes in the credit quality of the issuer. The
value of lower-quality debt securities and certain types of other securities
often fluctuates in response to company, political, or economic developments and
can decline significantly over short as well as long periods of time or during
periods of general or regional economic difficulty.
Leverage
Risk.
Derivatives, forward-settling securities, and short sale transactions involve
leverage because they can provide investment exposure in an amount exceeding the
initial investment. Leverage can magnify investment risks and cause losses to be
realized more quickly. A small change in the underlying asset, instrument, or
index can lead to a significant loss. Forward-settling securities and short sale
transactions also involve the risk that a security will not be issued,
delivered, available for purchase, or paid for when anticipated. An increase in
the market price of securities sold short will result in a loss. Government
legislation or regulation could affect the use of these transactions and could
limit a fund's ability to pursue its investment strategies.
"Growth"
Investing.
"Growth" stocks can react differently to issuer, political, market, and economic
developments than the market as a whole and other types of stocks. "Growth"
stocks tend to be more expensive relative to their earnings or assets compared
to other types of stocks. As a result, "growth" stocks tend to be sensitive to
changes in their earnings and more volatile than other types of
stocks.
"Value"
Investing.
"Value" stocks can react differently to issuer, political, market, and economic
developments than the market as a whole and other types of stocks. "Value"
stocks tend to be inexpensive relative to their earnings or assets compared to
other types of stocks. However, "value" stocks can continue to be inexpensive
for long periods of time and may not ever realize their full value.
In
response to market, economic, political, or other conditions, a fund may
temporarily use a different investment strategy for defensive purposes. If the
fund does so, different factors could affect its performance and the fund may
not achieve its investment objective.
Other
Investment Strategies
In
addition to the principal investment strategies discussed above, the Adviser may
lend the fund's securities to broker-dealers or other institutions to earn
income for the fund.
The
Adviser may also engage in transactions that have a leveraging effect on the
fund, including investments in derivatives, regardless of whether the fund may
own the asset, instrument, or components of the index underlying the derivative,
and forward-settling securities. The fund's derivative investments may include
interest rate swaps, total return swaps, credit default swaps, options
(including options on futures and swaps), and futures contracts (both long and
short positions) on securities, other instruments, and indexes. Depending on the
Adviser's outlook and market conditions, the Adviser may engage in these
transactions to increase or decrease the fund's exposure to changing security
prices, interest rates, credit qualities, or other factors that affect security
values, or to gain or reduce exposure to an asset, instrument, or
index.
Non-Fundamental
Investment Policies
The
fund's investment objective is non-fundamental and may be changed without
shareholder approval.
The
fund is open for business each day the NYSE is open.
The
NAV is the value of a single share. Fidelity normally calculates NAV as of the
close of business of the NYSE, normally 4:00 p.m. Eastern time. The fund's
assets normally are valued as of this time for the purpose of computing NAV.
Fidelity calculates NAV separately for each class of shares of a multiple class
fund.
NAV
is not calculated and the fund will not process purchase and redemption requests
submitted on days when the fund is not open for business. The time at which
shares are priced and until which purchase and redemption orders are accepted
may be changed as permitted by the Securities and Exchange Commission
(SEC).
To
the extent that the fund's assets are traded in other markets on days when the
fund is not open for business, the value of the fund's assets may be affected on
those days. In addition, trading in some of the fund's assets may not occur on
days when the fund is open for business.
NAV
is calculated using the values of other open-end funds, if any, in which the
fund invests (referred to as underlying funds). Shares of underlying funds are
valued at their respective NAVs. Other assets are valued primarily on the basis
of market quotations, official closing prices, or information furnished by a
pricing service. Certain short-term securities are valued on the basis of
amortized cost. If market quotations, official closing prices, or information
furnished by a pricing service are not readily available or, in the Adviser's
opinion, are deemed unreliable for a security, then that security will be fair
valued in good faith by the Adviser in accordance with applicable fair value
pricing policies. For example, if, in the Adviser's opinion, a security's value
has been materially affected by events occurring before a fund's pricing time
but after the close of the exchange or market on which the security is
principally traded, then that security will be fair valued in good faith by the
Adviser in accordance with applicable fair value pricing policies. Fair value
pricing will be used for high yield debt securities when available pricing
information is determined to be stale or for other reasons not to accurately
reflect fair value.
Arbitrage
opportunities may exist when trading in a portfolio security or securities is
halted and does not resume before a fund calculates its NAV. These arbitrage
opportunities may enable short-term traders to dilute the NAV of long-term
investors. Securities trading in overseas markets, if applicable, present
time zone arbitrage opportunities when events affecting portfolio security
values occur after the close of the overseas markets but prior to the close of
the U.S. market. Fair valuation of a fund's portfolio securities can serve to
reduce arbitrage opportunities available to short-term traders, but there is no
assurance that fair value pricing policies will prevent dilution of NAV by
short-term traders.
Policies
regarding excessive trading may not be effective to prevent short-term NAV
arbitrage trading, particularly in regard to omnibus accounts.
Fair
value pricing is based on subjective judgments and it is possible that the fair
value of a security may differ materially from the value that would be realized
if the security were sold.
Shareholder
Information
Additional
Information about the Purchase and Sale of Shares
As
used in this prospectus, the term "shares" generally refers to the shares
offered through this prospectus.
General
Information
Certain
methods of contacting Fidelity may be unavailable or delayed (for example,
during periods of unusual market activity). In addition, the level and type of
service available may be restricted.
Frequent
Purchases and Redemptions
The
fund may reject for any reason, or cancel as permitted or required by law, any
purchase or exchange, including transactions deemed to represent excessive
trading, at any time.
Excessive
trading of fund shares can harm shareholders in various ways, including reducing
the returns to long-term shareholders by increasing costs to the fund (such as
brokerage commissions or spreads paid to dealers who sell money market
instruments), disrupting portfolio management strategies, and diluting the value
of the shares in cases in which fluctuations in markets are not fully priced
into the fund's NAV.
The
fund reserves the right at any time to restrict purchases or exchanges or impose
conditions that are more restrictive on excessive trading than those stated in
this prospectus.
Excessive
Trading Policy
The
Board of Trustees has adopted policies designed to discourage excessive trading
of fund shares. Excessive trading activity in a fund is measured by the number
of roundtrip transactions in a shareholder's account and each class of a
multiple class fund is treated separately. A roundtrip transaction occurs when a
shareholder sells fund shares (including exchanges) within 30 days of the
purchase date.
Shareholders
with two or more roundtrip transactions in a single fund within a rolling 90-day
period will be blocked from making additional purchases or exchange purchases of
the fund for 85 days. Shareholders with four or more roundtrip transactions
across all Fidelity®
funds within any rolling 12-month period will be blocked for at least 85 days
from additional purchases or exchange purchases across all Fidelity®
funds. Any roundtrip within 12 months of the expiration of a multi-fund block
will initiate another multi-fund block. Repeat offenders may be subject to
long-term or permanent blocks on purchase or exchange purchase transactions in
any account under the shareholder's control at any time. In addition to
enforcing these roundtrip limitations, the fund may in its discretion restrict,
reject, or cancel any purchases or exchanges that, in the Adviser's opinion, may
be disruptive to the management of the fund or otherwise not be in the fund's
interests.
Exceptions
The
following transactions are exempt from the fund's excessive trading policy
described above: (i) systematic withdrawal and/or contribution programs, (ii)
mandatory retirement distributions, (iii) transactions initiated by a plan
sponsor or sponsors of certain employee benefit plans or other related accounts,
(iv) transactions within a qualified advisory program, and (v) transactions
initiated by the trustee or adviser to a donor-advised charitable gift fund,
qualified fund of funds, or other strategy funds.
A
qualified advisory program is one that demonstrates to Fidelity that the program
has investment strategies and trading policies designed to protect the interests
of long-term investors and meets specific criteria outlined by
Fidelity.
A
qualified fund of funds is a mutual fund, qualified tuition program, or other
strategy fund consisting of qualified plan assets that either applies the fund's
excessive trading policies to shareholders at the fund of funds level, or
demonstrates that the fund of funds has an investment strategy coupled with
policies designed to control frequent trading that are reasonably likely to be
effective as determined by the fund's Treasurer.
Fidelity
may choose not to monitor transactions below certain dollar value
thresholds.
Omnibus
Accounts
Omnibus
accounts, in which shares are held in the name of an intermediary on behalf of
multiple investors, are a common form of holding shares among retirement plans
and financial intermediaries such as brokers, advisers, and third-party
administrators. Individual trades in omnibus accounts are often not disclosed to
the fund, making it difficult to determine whether a particular shareholder is
engaging in excessive trading. Excessive trading in omnibus accounts is likely
to go undetected by the fund and may increase costs to the fund and disrupt its
portfolio management.
Under
policies adopted by the Board of Trustees, intermediaries will be permitted to
apply the fund's excessive trading policy (described above), or their own
excessive trading policy if approved by the Adviser. In these cases, the fund
will typically not request or receive individual account data but will rely on
the intermediary to monitor trading activity in good faith in accordance with
its or the fund's policies. Reliance on intermediaries increases the risk that
excessive trading may go undetected. For other intermediaries, the fund will
generally monitor trading activity at the omnibus account level to attempt to
identify disruptive trades. The fund may request transaction information, as
frequently as daily, from any intermediary at any time, and may apply the fund's
policy to transactions that exceed thresholds established by the Board of
Trustees. The fund may prohibit purchases of fund shares by an intermediary or
by some or all of any intermediary's clients. There is no assurance that the
Adviser will request data with sufficient frequency to detect or deter excessive
trading in omnibus accounts effectively.
If
you purchase or sell fund shares through a financial intermediary, you may wish
to contact the intermediary to determine the policies applicable to your
account.
Retirement
Plans
For
employer-sponsored retirement plans, only participant directed exchanges count
toward the roundtrip limits. Employer-sponsored retirement plan participants
whose activity triggers a purchase or exchange block will be permitted one trade
every calendar quarter. In the event of a block, employer and participant
contributions and loan repayments by the participant may still be invested in
the fund.
Other
Information about the Excessive Trading Policy
The
fund's Treasurer is authorized to suspend the fund's policies during periods of
severe market turbulence or national emergency. The fund reserves the right to
modify its policies at any time without prior notice.
The
fund does not knowingly accommodate frequent purchases and redemptions of fund
shares by investors, except to the extent permitted by the policies described
above.
As
described in "Valuing Shares," the fund also uses fair value pricing to help
reduce arbitrage opportunities available to short-term traders. There is no
assurance that the fund's excessive trading policy will be effective, or will
successfully detect or deter excessive or disruptive trading.
Buying
Shares
Eligibility
Shares
are generally available only to investors residing in the United
States.
Shares
generally are available only to certain employer-sponsored retirement plans, and
certain Fidelity health savings accounts that are made available through
employers. For this purpose, employer-sponsored retirement plans generally
include profit sharing, 401(k), 403(b), 457(b), defined benefit, retiree health
savings plans, and similar plans, but generally do not include: retail
retirement or non-retirement accounts; Individual Retirement Accounts (IRAs)
(such as traditional, Roth, SEP, SARSEP, and SIMPLE IRAs); Coverdell Education
Savings Accounts; individual 403(b) accounts that are not part of an employer's
403(b) plan; plans investing through the Fidelity Advisor®
403(b) program; plans covering self-employed individuals and their employees
(formerly Keogh/H.R. 10 plans); health savings accounts; or qualified tuition
programs. Please contact Fidelity for more information about Class K
shares.
Investors
eligible to purchase Class K shares may also be eligible to purchase Fidelity®
Balanced Fund shares, a class of shares of the fund that is not offered through
this prospectus. However, plan participants may purchase only the classes of
shares that are eligible for sale and available through their plan. Each class
has different expenses and features, as described in its prospectus. Fidelity®
Balanced Fund shares have higher expenses than Class K shares.
Shares
of the fund are not eligible for purchase by registered investment companies or
business development companies to the extent such acquisition is in reliance on
Rule 12d1-4 under the Investment Company Act of 1940.
There
is no minimum balance or purchase minimum for fund shares.
Price
to Buy
The
price to buy one share is its NAV. Shares are sold without a sales
charge.
Shares
will be bought at the NAV next calculated after an order is received in proper
form.
The
fund may stop offering shares completely or may offer shares only on a limited
basis, for a period of time or permanently.
Under
applicable anti-money laundering rules and other regulations, purchase orders
may be suspended, restricted, or canceled and the monies may be
withheld.
Selling
Shares
The
price to sell one share is its NAV.
Shares
will be sold at the NAV next calculated after an order is received in proper
form.
Normally,
redemptions will be processed by the next business day, but it may take up to
seven days to pay the redemption proceeds if making immediate payment would
adversely affect the fund.
See
"Policies Concerning the Redemption of Fund Shares" below for additional
redemption information.
A
signature guarantee is designed to protect you and Fidelity from fraud. Fidelity
may require that your request be made in writing and include a signature
guarantee in certain circumstances, such as:
- When
you wish to sell more than $100,000 worth of shares.
- When
the address on your account (record address) has changed within the last 15
days or you are requesting that a check be mailed to an address different than
the record address.
- When
you are requesting that redemption proceeds be paid to someone other than the
account owner.
- In
certain situations when the redemption proceeds are being transferred to a
Fidelity®
brokerage or mutual fund account with a different registration.
You
should be able to obtain a signature guarantee from a bank, broker (including
Fidelity®
Investor Centers), dealer, credit union (if authorized under state law),
securities exchange or association, clearing agency, or savings association. A
notary public cannot provide a signature guarantee.
When
you place an order to sell shares, note the following:
- Redemption
proceeds (other than exchanges) may be delayed until money from prior
purchases sufficient to cover your redemption has been received and
collected.
- Redemptions
may be suspended or payment dates postponed when the NYSE is closed (other
than weekends or holidays), when trading on the NYSE is restricted, or as
permitted by the SEC.
- Redemption
proceeds may be paid in securities or other property rather than in cash if
the Adviser determines it is in the best interests of the fund.
- You
will not receive interest on amounts represented by uncashed redemption
checks.
- Under
applicable anti-money laundering rules and other regulations, redemption
requests may be suspended, restricted, canceled, or processed and the proceeds
may be withheld.
Policies
Concerning the Redemption of Fund Shares
If
your account is held directly with a fund,
the length of time that a fund typically expects to pay redemption proceeds
depends on the method you have elected to receive such proceeds. A fund
typically expects to make payment of redemption proceeds by wire, automated
clearing house (ACH) or by issuing a check by the next business day following
receipt of a redemption order in proper form. Proceeds from the periodic and
automatic sale of shares of a Fidelity®
money
market fund that are used to buy shares of another Fidelity®
fund
are settled simultaneously.
If
your account is held through an intermediary,
the length of time that a fund typically expects to pay redemption proceeds
depends, in part, on the terms of the agreement in place between the
intermediary and a fund. For redemption proceeds that are paid either directly
to you from a fund or to your intermediary for transmittal to you, a fund
typically expects to make payments by wire, by ACH or by issuing a check on the
next business day following receipt of a redemption order in proper form from
the intermediary by a fund. Redemption orders that are processed through
investment professionals that utilize the National Securities Clearing
Corporation will generally settle one to three business days following receipt
of a redemption order in proper form.
As
noted elsewhere, payment of redemption proceeds may take longer than the time a
fund typically expects and may take up to seven days from the date of receipt of
the redemption order as permitted by applicable law.
Redemption
Methods Available. Generally
a fund expects to pay redemption proceeds in cash. To do so, a fund typically
expects to satisfy redemption requests either by using available cash (or cash
equivalents) or by selling portfolio securities. On a less regular basis, a fund
may also satisfy redemption requests by utilizing one or more of the following
sources, if permitted: borrowing from another Fidelity®
fund;
drawing on an available line or lines of credit from a bank or banks; or using
reverse repurchase agreements. These methods may be used during both normal and
stressed market conditions.
In
addition to paying redemption proceeds in cash, a fund reserves the right to pay
part or all of your redemption proceeds in readily marketable securities instead
of cash (redemption in-kind). Redemption in-kind proceeds will typically be made
by delivering the selected securities to the redeeming shareholder within seven
days after the receipt of the redemption order in proper form by a
fund.
The
fund will automatically convert your class of shares of the fund that is not
offered through this prospectus to Class K shares if Class K of the fund is
available under your plan.
The
fund may convert your Class K shares to another class of shares of the fund if
your plan is no longer eligible to offer Class K. Information on the other
classes of shares of the fund can be found in that class's prospectus. Investors
will be notified in writing before any such conversion to another class of
shares of the fund.
A
conversion will be based on the respective NAVs of the two classes, without the
imposition of any fees, on the trade date of the conversion. A conversion
between share classes of the same fund is a non-taxable event.
An
exchange involves the redemption of all or a portion of the shares of one fund
and the purchase of shares of another fund.
Shares
may be exchanged into shares of any class of a Fidelity®
fund available through your plan or certain Fidelity health savings accounts
that are made available through employers.
However,
you should note the following policies and restrictions governing
exchanges:
- The
exchange limit may be modified for accounts held by certain institutional
retirement plans to conform to plan exchange limits and Department of Labor
regulations. See your retirement plan materials for further
information.
- The
fund may refuse any exchange purchase for any reason. For example, the fund
may refuse exchange purchases by any person or group if, in the Adviser's
judgment, the fund would be unable to invest the money effectively in
accordance with its investment objective and policies, or would otherwise
potentially be adversely affected.
- Before
any exchange, read the prospectus for the shares you are purchasing, including
any purchase and sale requirements.
- The
shares you are acquiring by exchange must be available for sale in your
state.
- If
you are exchanging between accounts that are not registered in the same name,
address, and taxpayer identification number (TIN), there may be additional
requirements.
- Under
applicable anti-money laundering rules and other regulations, exchange
requests may be suspended, restricted, canceled, or processed and the proceeds
may be withheld.
The
fund may terminate or modify exchange privileges in the future.
Other
funds may have different exchange restrictions and minimums. Check each fund's
prospectus for details.
Class
K shares generally are not available to IRA rollover accounts. Assets from
retirement plans may be invested in other class(es) of shares of the fund
through an IRA rollover, including class(es) of shares not offered in this
prospectus. Each class of the fund has different expenses and features and may
have higher expenses than Class K shares. Information on the other class(es) of
shares of the fund, including any class expenses and features, can be found in
the applicable class's prospectus.
The
following apply to you as a shareholder.
Statements
that Fidelity sends to you, if applicable, include the following:
- Confirmation
statements (after transactions affecting your fund balance except reinvestment
of distributions in the fund).
- Monthly
or quarterly account statements (detailing fund balances and all transactions
completed during the prior month or quarter).
You
may initiate many transactions
by telephone or electronically.
Fidelity will not be responsible for any loss, cost, expense, or other liability
resulting from unauthorized transactions if it follows reasonable security
procedures designed to verify the identity of the investor. Fidelity will
request personalized security codes or other information, and may also record
calls. For transactions conducted through the Internet, Fidelity recommends the
use of an Internet browser with 128-bit encryption. You should verify the
accuracy of your confirmation statements upon receipt and notify Fidelity
immediately of any discrepancies in your account activity. If you do not want
the ability to sell and exchange by telephone, call Fidelity for instructions.
Additional documentation may be required from corporations, associations, and
certain fiduciaries.
You
may be asked to provide additional information in order for Fidelity to verify
your identity in accordance with requirements under anti-money laundering
regulations. Accounts may be restricted and/or closed, and the monies withheld,
pending verification of this information or as otherwise required under these
and other federal regulations. In addition, the fund reserves the right to
involuntarily redeem an account in the case of: (i) actual or suspected
threatening conduct or actual or suspected fraudulent, illegal or suspicious
activity by the account owner or any other individual associated with the
account; or (ii) the failure of the account owner to provide information to the
fund related to opening the accounts. Your shares will be sold at the NAV, minus
any applicable shareholder fees, calculated on the day Fidelity closes your fund
position.
Fidelity
may charge a fee
for certain services,
such as providing historical account documents.
Dividends
and Capital Gain Distributions
The
fund earns interest, dividends, and other income from its investments, and
distributes this income (less expenses) to shareholders as dividends. The fund
also realizes capital gains from its investments, and distributes these gains
(less any losses) to shareholders as capital gain distributions.
The
fund normally pays dividends and capital gain distributions per the tables
below:
|
Fund
Name |
|
Dividends
Paid |
|
Fidelity®
Balanced Fund |
|
April,
July, October, December |
|
Fund
Name |
|
Capital
Gains Paid |
|
Fidelity®
Balanced Fund |
|
October,
December |
Any
dividends and capital gain distributions paid to retirement plan participants
will be automatically reinvested.
Taxes
on Distributions
Distributions
by the fund to tax-advantaged retirement plan accounts are not taxable currently
(but you may be taxed later, upon withdrawal of your investment from such
account).
Taxes
on Transactions
Exchanges
within a tax-advantaged retirement plan account will not result in a capital
gain or loss for federal tax purposes. Please consult your tax advisor regarding
the tax treatment of distributions from a tax-advantaged retirement plan
account.
Fund
Services
The
fund is a mutual fund, an investment that pools shareholders' money and invests
it toward a specified goal.
Adviser
FMR.
The
Adviser is the fund's manager. The address of the Adviser is 245 Summer Street,
Boston, Massachusetts 02210.
As
of December 31, 2022, the Adviser had approximately $3.1 trillion in
discretionary assets under management, and approximately $3.9 trillion when
combined with all of its affiliates' assets under management.
As
the manager, the Adviser has overall responsibility for directing the fund's
investments and handling its business affairs.
Sub-Adviser(s)
FMR
Investment Management (UK) Limited (FMR UK),
at 1 St. Martin's Le Grand, London, EC1A 4AS, United Kingdom, serves as a
sub-adviser for the fund. As of December 31, 2022, FMR UK had approximately
$14.7 billion in discretionary assets under management. FMR UK is an affiliate
of the Adviser.
FMR
UK may provide investment research and advice on issuers based outside the
United States and may also provide investment advisory services for the
fund.
Fidelity
Management & Research (Hong Kong) Limited (FMR H.K.),
at Floor 19, 41 Connaught Road Central, Hong Kong, serves as a sub-adviser for
the fund. As of December 31, 2022, FMR H.K. had approximately $21.4 billion in
discretionary assets under management. FMR H.K. is an affiliate of the
Adviser.
Currently,
FMR H.K. has day-to-day responsibility for choosing certain types of investments
for the fund.
Fidelity
Management & Research (Japan) Limited (FMR Japan),
at Kamiyacho Prime Place, 1-17, Toranomon-4-Chome, Minato-ku, Tokyo, Japan,
serves as a sub-adviser for the fund. As of March 31, 2023, FMR Japan had
approximately $2.9 billion in discretionary assets under management. FMR Japan
is an affiliate of the Adviser.
FMR
Japan may provide investment research and advice on issuers based outside the
United States and may also provide investment advisory services for the
fund.
Portfolio
Manager(s)
Priyanshu
Bakshi is Co-Portfolio Manager of Fidelity®
Balanced Fund, which he has managed since 2022. He also manages other funds.
Since joining Fidelity Investments in 2015, Mr. Bakshi has worked as a research
analyst, sector leader, and portfolio manager.
Chad
Colman is Co-Portfolio Manager of Fidelity®
Balanced Fund, which he has managed since 2022. He also manages other funds.
Since joining Fidelity Investments in 2009, Mr. Colman has worked as an analyst,
global sector leader, and portfolio manager.
Matthew
Drukker is Co-Portfolio Manager of Fidelity®
Balanced Fund, which he has managed since 2022. He also manages other funds.
Since joining Fidelity Investments in 2007, Mr. Drukker has worked as a research
analyst and portfolio manager.
Ashley
Fernandes is Co-Portfolio Manager of Fidelity®
Balanced Fund, which he has managed since 2020. He also manages other funds.
Since joining Fidelity Investments in 2013, Mr. Fernandes has worked as a global
energy analyst, research analyst, and portfolio manager.
Steven
Kaye is Co-Portfolio Manager of Fidelity®
Balanced Fund, which he has managed since 2008. He also manages other funds.
Since joining Fidelity Investments in 1985, Mr. Kaye has worked as a research
analyst, assistant director of equity research, and portfolio
manager.
Ali
Khan is Co-Portfolio Manager of Fidelity®
Balanced Fund, which he has managed since 2022. He also manages other funds.
Since joining Fidelity Investments in 2007, Mr. Khan has worked as an equity
research associate and portfolio manager.
Christopher
Lee is Co-Portfolio Manager of Fidelity®
Balanced Fund, which he has managed since 2022. He also manages other funds.
Since joining Fidelity Investments in 2004, Mr. Lee has worked as a managing
director of research, sector leader, research analyst, and portfolio
manager.
Melissa
Reilly is Co-Portfolio Manager of Fidelity®
Balanced Fund, which she has managed since 2020. She also manages other funds.
Since joining Fidelity Investments in 2004, Ms. Reilly has worked as a chief
investment officer and portfolio manager.
Douglas
Simmons is Co-Portfolio Manager of Fidelity®
Balanced Fund, which he has managed since 2008. He also manages other funds.
Since joining Fidelity Investments in 2003, Mr. Simmons has worked as a
portfolio manager.
Pierre
Sorel is Co-Portfolio Manager of Fidelity®
Balanced Fund, which he has managed since 2008. He also manages other funds.
Since joining Fidelity Investments in 1998, Mr. Sorel has worked as an equity
research analyst and portfolio manager.
Nicola
Stafford is Co-Portfolio Manager of Fidelity®
Balanced Fund, which she has managed since 2017. She also manages other funds.
Since joining Fidelity Investments in 2001, Ms. Stafford has worked as a
research analyst and portfolio manager.
The
Statement of Additional Information (SAI) provides additional information about
the compensation of, any other accounts managed by, and any fund shares held by
the portfolio manager(s).
From
time to time a manager, analyst, or other Fidelity employee may express views
regarding a particular company, security, industry, or market sector. The views
expressed by any such person are the views of only that individual as of the
time expressed and do not necessarily represent the views of Fidelity or any
other person in the Fidelity organization. Any such views are subject to change
at any time based upon market or other conditions and Fidelity disclaims any
responsibility to update such views. These views may not be relied on as
investment advice and, because investment decisions for a fund are based on
numerous factors, may not be relied on as an indication of trading intent on
behalf of any fund.
Advisory
Fee(s)
The
fund pays a management fee to the Adviser.
The
management fee is calculated and paid to the Adviser every month.
The
fee is calculated by adding a group fee rate to an individual fund fee rate,
dividing by twelve, and multiplying the result by the fund's average net assets
throughout the month.
The
group fee rate is based on the average net assets of a group of mutual funds
advised by FMR. This rate cannot rise above 0.52%, and it drops as total assets
under management increase.
The
group fee rate(s) for August 2023 and the annual individual fund fee rate(s) are
reflected in the table below:
|
Fund |
|
Group
Fee Rate |
|
Individual
Fund Fee Rate |
|
Fidelity®
Balanced Fund |
|
0.22% |
|
0.15% |
The
total management fee, as a percentage of the fund's average net assets, for the
fiscal year ended August 31, 2023, for the fund is shown in the following table.
Because the fund's management fee rate may fluctuate, the fund's management fee
may be higher or lower in the future.
|
Fund |
Total
Management Fee Rate |
|
Fidelity®
Balanced Fund |
0.38% |
The
Adviser pays FMR Investment Management (UK) Limited, Fidelity Management &
Research (Hong Kong) Limited, and Fidelity Management & Research (Japan)
Limited for providing sub-advisory services.
The
basis for the Board of Trustees approving the management contract and
sub-advisory agreements for the fund is available in the fund's annual report
for the fiscal period ended August 31, 2023.
From
time to time, the Adviser or its affiliates may agree to reimburse or waive
certain fund expenses while retaining the ability to be repaid if expenses fall
below the specified limit prior to the end of the fiscal year.
Reimbursement
or waiver arrangements can decrease expenses and boost performance.
The
fund is composed of multiple classes of shares. All classes of the fund have a
common investment objective and investment portfolio.
FDC distributes
Class K shares.
Intermediaries
may receive from the Adviser, FDC, and/or their affiliates compensation for
providing recordkeeping and administrative services, as well as other retirement
plan expenses, and compensation for services intended to result in the sale of
Class K shares.
These
payments are described in more detail in this section and in the
SAI.
Distribution
and Service Plan(s)
Class
K of the fund has adopted a Distribution and Service Plan pursuant to Rule 12b-1
under the Investment Company Act of 1940 (1940 Act) that recognizes that the
Adviser may use its management fee revenues, as well as its past profits or its
resources from any other source, to pay FDC for expenses incurred in connection
with providing services intended to result in the sale of Class K shares and/or
shareholder support services. The Adviser, directly or through FDC, may pay
significant amounts to intermediaries that provide those services. Currently,
the Board of Trustees of the fund has authorized such payments for Class
K.
If
payments made by the Adviser to FDC or to intermediaries under the Distribution
and Service Plan were considered to be paid out of the class's assets on an
ongoing basis, they might increase the cost of your investment and might cost
you more than paying other types of sales charges.
From
time to time, FDC may offer special promotional programs to investors who
purchase shares of Fidelity® funds. For example, FDC may offer merchandise,
discounts, vouchers, or similar items to investors who purchase shares of
certain Fidelity® funds during certain periods. To determine if you qualify for
any such programs, contact Fidelity or visit our web site at
www.fidelity.com.
No
dealer, sales representative, or any other person has been authorized to give
any information or to make any representations, other than those contained in
this prospectus and in the related SAI, in connection with the offer contained
in this prospectus. If given or made, such other information or representations
must not be relied upon as having been authorized by the fund or FDC. This
prospectus and the related SAI do not constitute an offer by the fund or by FDC
to sell shares of the fund to, or to buy shares of the fund from, any person to
whom it is unlawful to make such offer.
Appendix
Financial
Highlights are intended to help you understand the financial history of fund
shares for the past 5 years (or, if shorter, the period of operations). Certain
information reflects financial results for a single share. The total returns in
the table represent the rate that an investor would have earned (or lost) on an
investment in shares (assuming reinvestment of all dividends and distributions).
The annual information has been audited by PricewaterhouseCoopers LLP,
independent registered public accounting firm, whose report, along with
fund financial statements, is included in the annual report. Annual reports are
available for free upon request.
|
Fidelity®
Balanced Fund Class K |
|
|
|
Years
ended August 31, |
|
2023
|
|
2022 |
|
2021 |
|
2020 |
|
2019 |
|
Selected
Per-Share Data |
|
|
|
|
|
|
|
|
|
|
|
Net
asset value, beginning of period |
$ |
25.49 |
$ |
32.24 |
$ |
27.37 |
$ |
23.55 |
$ |
25.33 |
|
Income
from Investment Operations |
|
|
|
|
|
|
|
|
|
|
|
Net
investment income (loss) A,B |
|
.43
|
|
.32
|
|
.31
|
|
.40
|
|
.44
|
|
Net
realized and unrealized gain (loss) |
|
2.19
|
|
(4.09)
|
|
6.17
|
|
4.48
|
|
.09
|
|
Total
from investment operations |
|
2.62
|
|
(3.77)
|
|
6.48
|
|
4.88
|
|
.53
|
|
Distributions
from net investment income |
|
(.42)
|
|
(.31)
|
|
(.31)
|
|
(.43)
|
|
(.42)
|
|
Distributions
from net realized gain |
|
(1.51)
|
|
(2.67)
|
|
(1.31)
|
|
(.62)
|
|
(1.89)
|
|
Total
distributions |
|
(1.94)
C |
|
(2.98)
|
|
(1.61)
C |
|
(1.06)
C |
|
(2.31)
|
|
Net
asset value, end of period |
$ |
26.17 |
$ |
25.49 |
$ |
32.24 |
$ |
27.37 |
$ |
23.55 |
|
Total
Return D |
|
11.72%
|
|
(12.73)%
|
|
24.92%
|
|
21.49%
|
|
2.74%
|
|
Ratios
to Average Net Assets B,E,F |
|
|
|
|
|
|
|
|
|
|
|
Expenses
before reductions |
|
.43%
|
|
.43%
|
|
.43%
|
|
.44%
|
|
.45%
|
|
Expenses
net of fee waivers, if any |
|
.42%
|
|
.42%
|
|
.43%
|
|
.44%
|
|
.45%
|
|
Expenses
net of all reductions |
|
.42%
|
|
.42%
|
|
.43%
|
|
.43%
|
|
.44%
|
|
Net
investment income (loss) |
|
1.78%
|
|
1.12%
|
|
1.06%
|
|
1.65%
|
|
1.91%
|
|
Supplemental
Data |
|
|
|
|
|
|
|
|
|
|
|
Net
assets, end of period (in millions) |
$ |
7,942
|
$ |
7,692
|
$ |
10,092
|
$ |
9,033
|
$ |
8,429
|
|
Portfolio
turnover rate G |
|
29%
H |
|
36%
H |
|
40%
H |
|
95%
H |
|
60%
|
ACalculated
based on average shares outstanding during the period.
BNet
investment income (loss) is affected by the timing of the declaration of
dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net
investment income (loss) of any mutual funds or ETFs is not included in the
Fund's net investment income (loss) ratio.
CTotal
distributions per share do not sum due to rounding.
DTotal
returns would have been lower if certain expenses had not been reduced during
the applicable periods shown.
EFees
and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are
not included in the Fund's expense ratio. The Fund indirectly bears its
proportionate share of these expenses. For additional expense information
related to investments in Fidelity Central Funds, please refer to the
"Investments in Fidelity Central Funds" note found in the Notes to Financial
Statements section of the most recent Annual or Semi-Annual
report.
FExpense
ratios reflect operating expenses of the class. Expenses before reductions do
not reflect amounts reimbursed, waived, or reduced through arrangements with the
investment adviser, brokerage services, or other offset arrangements, if
applicable, and do not represent the amount paid by the class during periods
when reimbursements, waivers or reductions occur.
GAmount
does not include the portfolio activity of any underlying mutual funds or
exchange-traded funds (ETFs).
HPortfolio
turnover rate excludes securities received or delivered
in-kind.
Additional
Index Information
Fidelity
Balanced Hybrid Composite IndexSM is
a customized blend of unmanaged indexes, weighted as follows: S&P
500®
Index - 60%; and Bloomberg U.S. Aggregate Bond Index - 40%.
S&P
500®
Index
is a market capitalization-weighted index of 500 common stocks chosen for market
size, liquidity, and industry group representation to represent U.S. equity
performance.
|
IMPORTANT
INFORMATION ABOUT OPENING A NEW ACCOUNT
To
help the government fight the funding of terrorism and money laundering
activities, the Uniting and Strengthening America by Providing Appropriate
Tools Required to Intercept and Obstruct Terrorism Act of 2001 (USA
PATRIOT ACT), requires all financial institutions to obtain, verify, and
record information that identifies each person or entity that opens an
account.
For
individual investors opening an account: When
you open an account, you will be asked for your name, address, date of
birth, and other information that will allow Fidelity to identify you. You
may also be asked to provide documents that may help to establish your
identity, such as your driver's license.
For
investors other than individuals: When
you open an account, you will be asked for the name of the entity, its
principal place of business and taxpayer identification number (TIN). You
will be asked to provide information about the entity's control person and
beneficial owners, and person(s) with authority over the account,
including name, address, date of birth and social security number. You may
also be asked to provide documents, such as drivers' licenses, articles of
incorporation, trust instruments or partnership agreements and other
information that will help Fidelity identify the
entity. |
You
can obtain additional information about the fund. A description of the fund's
policies and procedures for disclosing its holdings is available in its
Statement of Additional Information (SAI) and on Fidelity's web sites. The SAI
also includes more detailed information about the fund and its investments. The
SAI is incorporated herein by reference (legally forms a part of the
prospectus). The fund's annual and semi-annual reports also include additional
information. The fund's annual report includes a discussion of the fund's
holdings and recent market conditions and the fund's investment strategies that
affected performance.
For
a free copy of any of these documents or to request other information or ask
questions about the fund, call Fidelity at 1-800-835-5092. In addition, existing
investors may visit the web site at www.401k.com for a free copy of a
prospectus, SAI, or annual or semi-annual report or to request other
information.
The
SAI, the fund's annual and semi-annual reports and other related materials
are available from the Electronic Data Gathering, Analysis, and Retrieval
(EDGAR) Database on the SEC's web site (http://www.sec.gov). You can
obtain copies of this information, after paying a duplicating fee, by
sending a request by e-mail to [email protected] or by writing the Public
Reference Section of the SEC, Washington, D.C. 20549-1520. You can also
review and copy information about the fund, including the fund's SAI, at
the SEC's Public Reference Room in Washington, D.C. Call 1-202-551-8090
for information on the operation of the SEC's Public Reference
Room. |
|
Investment
Company Act of 1940, File Number(s), 811-00649 |
Fidelity
Distributors Company LLC (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,
the Fidelity Investments Logo and all other Fidelity trademarks or service marks
used herein are trademarks or service marks of FMR LLC. Any third-party marks
that are used herein are trademarks or service marks of their respective owners.
© 2023 FMR LLC. All rights reserved.
|
1.863048.117 |
BAL-K-PRO-1023 |
