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Supplement to the
Fidelity Advisor Mega Cap Stock Fund
Class A, Class T, Class B, and Class C
August 29, 2009
Prospectus

Effective after the close of business on September 1, 2010 (the "Effective Date"), Class B shares will be closed to new accounts and additional purchases by existing shareholders. After the Effective Date, shareholders owning Class B shares may continue to hold those shares (and any Class B shares acquired after that date pursuant to an exchange or distribution reinvestment) until they automatically convert to Class A shares under the existing conversion schedule. Existing shareholders of Class B shares may continue to exchange their Class B shares for Class B shares of other Fidelity funds that offer Advisor classes of shares or for Advisor B Class shares of Treasury Fund until they convert to Class A. Existing Class B shareholders may also continue to add to their accounts through the reinvestment of dividends and capital gain distributions (including through the Directed Dividends® Option) until their conversion dates.

After the Effective Date, any purchase orders for Class B shares (other than for an exchange or a distribution reinvestment) received by a fund will be deemed to be a purchase order for Class A shares of the fund and will be subject to any applicable Class A front-end sales charge. For purposes of determining the applicable Class A sales charge, the value of a shareholder's account will be deemed to include the value of all applicable shares in eligible accounts, including Class B shares. Please see "Fund Distribution" for more information.

After the Effective Date, the Reinstatement Privilege will no longer be offered for Class B shares. However, shareholders who redeem Class B shares and wish to reinvest all or a portion of the redemption proceeds within 90 days of redemption can invest in Class A shares without incurring a front-end sales charge. To qualify, shareholders must notify Fidelity in writing in advance of reinvestment and must reinstate shares into an account with the same registration. This privilege may be exercised only once by a shareholder with respect to the fund and certain restrictions may apply.

All other Class B share features, including but not limited to distribution and service fees, contingent deferred sales charges (CDSC) and conversion features, will remain unchanged.

Also effective on or about July 12, 2010, the CDSC on investments in Class A shares of $1 million or more will change. Effective on such date, investments in Class A shares of $1 million or more may, upon redemption less than 18 months after purchase, for any reason, including failure to maintain the account minimum, be assessed a CDSC of 1.00%. The actual CDSC you pay may be higher or lower than that calculated using this percentage due to rounding. The impact of rounding may vary with the amount of your investment and the size of the class's NAV.

AGII-10-01 June 7, 2010 1.885801.105

Effective October 23, 2009, (i) a front-end sales charge will not apply to Class A shares purchased by a shareholder who redeemed Destiny Plan assets and received the proceeds in the form of directly held shares of a Fidelity Advisor fund after September 30, 2008; and (ii) Institutional Class shares will be offered to Destiny Planholders who exchange, or have exchanged, from Class O to Institutional Class of Fidelity Advisor funds.

The following replaces similar information found in the footnotes to the "Fee Table" on page 6.

Class A and Class T purchases of $1 million or more will not be subject to a front-end sales charge. Such Class A and Class T purchases may be subject, upon redemption, to a contingent deferred sales charge (CDSC) of 1.00% or 0.25%, respectively.

Effective September 14, 2009, the following information replaces the "Minimums" table found in the "Buying and Selling Shares" section on page 10.

Minimums

To Open an Account

$2,500

For certain Fidelity Advisor retirement accountsA

$500

Through regular investment plansB

$100

Minimum Balance

$1,000

For certain Fidelity Advisor retirement accountsA

None

A Fidelity Advisor Traditional IRA, Roth IRA, Rollover IRA, SEP-IRA, and Keogh accounts.

B An account may be opened with a minimum of $100, provided that a regular investment plan is established at the time the account is opened.

Effective September 14, 2009, the following information replaces the similar information found in the "Buying and Selling Shares" section on page 10.

There is no minimum account balance or initial purchase minimum for (i) certain Fidelity retirement accounts funded through salary deduction, or accounts opened with the proceeds of distributions from such retirement accounts, or a Fidelity systematic withdrawal service, or (ii) certain mutual fund wrap program accounts. An eligible wrap program must offer asset allocation services, charge an asset-based fee to its participants for asset allocation and/or other advisory services, and meet trading and other operational requirements under an appropriate agreement with Fidelity Distributors Corporation (FDC). In addition, the fund may waive or lower purchase minimums in other circumstances.

Effective on or about July 12, 2010, the following replaces similar information found in the "Fund Distribution" section on page 22.

As described in detail in this section, you may be entitled to a waiver of your sales charge, or to pay a reduced sales charge, when you buy or sell your shares. In the event of changes in sales charges, sales charges, if any, in effect at the time of purchase generally will apply.

Effective on or about July 12, 2010, the following replaces similar information under the "Sales Charges and Concessions - Class A" table in the "Fund Distribution" section on page 23.

Investments in Class A shares of $1 million or more may, upon redemption less than 18 months after purchase, for any reason, including failure to maintain the account minimum, be assessed a CDSC of 1.00%. The actual CDSC you pay may be higher or lower than that calculated using this percentage due to rounding. The impact of rounding may vary with the amount of your investment and the size of the class's NAV.

Effective on or about July 12, 2010, the following replaces similar information found in the "Fund Distribution" section on page 25.

You may receive a Class A or Class T front-end sales charge reduction on your purchases of Class A and Class T shares made during a 13-month period by signing a Letter of Intent (Letter). File your Letter with Fidelity no later than the date of the initial purchase toward completing your Letter.

Effective on or about July 12, 2010, the following replaces similar information found in the "Fund Distribution" section on page 25.

If you do not complete your Letter, you must pay the increased front-end sales charges due in accordance with the sales charge schedule in effect when your shares were originally bought. Fidelity may redeem sufficient escrowed Class A or Class T shares to pay any applicable front-end sales charges.

The following supplements information under the "Fund Distribution" section on page 28.

10. (Applicable to Class B only) From the Fidelity Advisor 403(b) program.

Supplement dated June 7, 2010 to the Prospectus for each of:

Fidelity Advisor 130/30 Large Cap Fund

Fidelity Advisor Equity Value Fund

Fidelity Advisor Asset Manager 20%

Fidelity Advisor Europe Capital Appreciation Fund

Fidelity Advisor Asset Manager 30%

Fidelity Advisor Fifty Fund

Fidelity Advisor Asset Manager 40%

Fidelity Advisor Financial Services Fund

Fidelity Advisor Asset Manager 50%

Fidelity Advisor Floating Rate High Income Fund

Fidelity Advisor Asset Manager 60%

Fidelity Advisor Freedom 2005 Fund

Fidelity Advisor Asset Manager 70%

Fidelity Advisor Freedom 2010 Fund

Fidelity Advisor Asset Manager 85%

Fidelity Advisor Freedom 2015 Fund

Fidelity Advisor Balanced Fund

Fidelity Advisor Freedom 2020 Fund

Fidelity Advisor Biotechnology Fund

Fidelity Advisor Freedom 2025 Fund

Fidelity Advisor California Municipal Income Fund

Fidelity Advisor Freedom 2030 Fund

Fidelity Advisor Canada Fund

Fidelity Advisor Freedom 2035 Fund

Fidelity Advisor Capital Development Fund

Fidelity Advisor Freedom 2040 Fund

Fidelity Advisor China Region Fund

Fidelity Advisor Freedom 2045 Fund

Fidelity Advisor Communications Equipment Fund

Fidelity Advisor Freedom 2050 Fund

Fidelity Advisor Consumer Discretionary Fund

Fidelity Advisor Freedom Income Fund

Fidelity Advisor Consumer Staples Fund

Fidelity Advisor Global Balanced Fund

Fidelity Advisor Convertible Securities Fund

Fidelity Advisor Global Capital Appreciation Fund

Fidelity Advisor Diversified International Fund

Fidelity Advisor Global Commodity Stock Fund

Fidelity Advisor Diversified Stock Fund

Fidelity Advisor Gold Fund

Fidelity Advisor Dividend Growth Fund

Fidelity Advisor Government Income Fund

Fidelity Advisor Dynamic Capital Appreciation Fund

Fidelity Advisor Growth & Income Fund

Fidelity Advisor Dynamic Strategies Fund

Fidelity Advisor Growth Opportunities Fund

Fidelity Advisor Electronics Fund

Fidelity Advisor Growth Strategies Fund

Fidelity Advisor Emerging Asia Fund

Fidelity Advisor Health Care Fund

Fidelity Advisor Emerging Europe, Middle East, Africa (EMEA) Fund

Fidelity Advisor High Income Advantage Fund

Fidelity Advisor Emerging Markets Fund

Fidelity Advisor High Income Fund

Fidelity Advisor Emerging Markets Income Fund

Fidelity Advisor Industrials Fund

Fidelity Advisor Energy Fund

Fidelity Advisor Inflation-Protected Bond Fund

Fidelity Advisor Equity Growth Fund

Fidelity Advisor Intermediate Bond Fund

Fidelity Advisor Equity Income Fund

Fidelity Advisor Intermediate Municipal Income Fund

Fidelity Advisor International Capital Appreciation Fund

Fidelity Advisor New York Municipal Income Fund

Fidelity Advisor International Discovery Fund

Fidelity Advisor Overseas Fund

Fidelity Advisor International Growth Fund

Fidelity Advisor Real Estate Fund

Fidelity Advisor International Real Estate Fund

Fidelity Advisor Short Fixed-Income Fund

Fidelity Advisor International Small Cap Fund

Fidelity Advisor Short-Intermediate Municipal Income Fund

Fidelity Advisor International Small Cap Opportunities Fund

Fidelity Advisor Small Cap Fund

Fidelity Advisor International Value Fund

Fidelity Advisor Small Cap Growth Fund

Fidelity Advisor Investment Grade Bond Fund

Fidelity Advisor Small Cap Independence Fund

Fidelity Advisor Japan Fund

Fidelity Advisor Small Cap Value Fund

Fidelity Advisor Large Cap Fund

Fidelity Advisor Strategic Dividend & Income Fund

Fidelity Advisor Large Cap Growth Fund

Fidelity Advisor Strategic Growth Fund

Fidelity Advisor Large Cap Value Fund

Fidelity Advisor Strategic Income Fund

Fidelity Advisor Latin America Fund

Fidelity Advisor Strategic Real Return Fund

Fidelity Advisor Leveraged Company Stock Fund

Fidelity Advisor Tax Managed Stock Fund

Fidelity Advisor Materials Fund

Fidelity Advisor Technology Fund

Fidelity Advisor Mega Cap Stock Fund

Fidelity Advisor Telecommunications Fund

Fidelity Advisor Mid Cap Fund

Fidelity Advisor Total Bond Fund

Fidelity Advisor Mid Cap Growth Fund

Fidelity Advisor Total International Equity Fund

Fidelity Advisor Mid Cap II Fund

Fidelity Advisor Utilities Fund

Fidelity Advisor Mid Cap Value Fund

Fidelity Advisor Value Fund

Fidelity Advisor Mortgage Securities Fund

Fidelity Advisor Value Leaders Fund

Fidelity Advisor Municipal Income Fund

Fidelity Advisor Value Strategies Fund

Fidelity Advisor New Insights Fund

Fidelity Advisor Worldwide Fund

 

Treasury Fund: Advisor B Class

Effective after the close of business on September 1, 2010 (the "Effective Date"), Class B shares will be closed to new accounts and additional purchases by existing shareholders. After the Effective Date, shareholders owning Class B shares may continue to hold those shares (and any Class B shares acquired after that date pursuant to an exchange or distribution reinvestment) until they automatically convert to Class A shares under the existing conversion schedule. Existing shareholders of Class B shares may continue to exchange their Class B shares for Class B shares of other Fidelity funds that offer Advisor classes of shares or for Advisor B Class shares of Treasury Fund until they convert to Class A. Existing Class B shareholders may also continue to add to their accounts through the reinvestment of dividends and capital gain distributions (including through the Directed Dividends® Option) until their conversion dates.

After the Effective Date, any purchase orders for Class B shares (other than for an exchange or a distribution reinvestment) received by a fund will be deemed to be a purchase order for Class A shares of the fund (Daily Money Class in the case of Treasury Fund) and will be subject to any applicable Class A front-end sales charge. For purposes of determining the applicable Class A sales charge, the value of a shareholder's account will be deemed to include the value of all applicable shares in eligible accounts, including Class B shares. Please see "Fund Distribution" for more information.

After the Effective Date, the Reinstatement Privilege will no longer be offered for Class B shares. However, shareholders who redeem Class B shares and wish to reinvest all or a portion of the redemption proceeds within 90 days of redemption can invest in Class A shares without incurring a front-end sales charge. To qualify, shareholders must notify Fidelity in writing in advance of reinvestment and must reinstate shares into an account with the same registration. This privilege may be exercised only once by a shareholder with respect to the fund and certain restrictions may apply.

All other Class B share features, including but not limited to distribution and service fees, contingent deferred sales charges and conversion features, will remain unchanged.