Please note the following portfolio manager appointments effective 11/1/09. There are no changes in the ratings based on these manager changes.
Christopher L. Sharpe and Geoffrey D. Stein have been named lead portfolio managers of Fidelity Stock Selector Fund, succeeding James F. Catudal. Sharpe and Stein will manage the fund with John M. Harris, Robert A. Lee, John P. Dowd, Benjamin Hesse, Edward L. Yoon, Tobias W. Welo, Yun-Min (Charlie) Chai, Kristina M. Salen, and Douglas Simmons, all of whom will continue with their other current portfolio management responsibilities.
Rayna Lesser , Shadman Riaz , Chuck L. Myers, and Pat L. Venanzi have been appointed co-portfolio managers, joining current portfolio manager Richard S. Thompson, on Fidelity Small Cap Independence Fund and Fidelity Advisor Small Cap Independence Fund. Each manager will be responsible for one or more industry sectors of the portfolio (Lesser/Information Technology and Telecommunication Services; Riaz/Energy, Materials, Industrials and Utilities; Myers/Financials; Harris and Venanzi/Health Care; and Thompson/Consumer Staples and Consumer Discretionary). These individuals will continue to co-manage Fidelity Series Small Cap Opportunities Fund for which Lesser, Riaz, Myers, Venanzi and Thompson assumed responsibility in 2009. Myers will continue to manage Fidelity Small Cap Discovery Fund, which he has managed since 2006, and Fidelity Small Cap Value Fund and Fidelity Advisor Small Cap Value Fund, which he has managed since 2008.
Jeffrey S. Feingold has been named portfolio manager of Fidelity Large Cap Growth Fund (with retail and Advisor share classes), succeeding Edward Best. Feingold will continue to manage Fidelity Trend Fund, Fidelity Advisor Strategic Growth Fund and VIP Growth Stock Portfolio, for which he assumed responsibility in 2007.
Dale O. Nicholls has been named co-portfolio manager of Fidelity International Small Cap Fund (with retail and Advisor share classes), joining existing co‐managers Noriko Takahashi and Colin Stone. Nicholls will be responsible for the fund’s investments in