0000354046 2011-11-30 2012-11-29 0000354046 fcst3:S000005457Member fcst3:InstMember 2011-11-30 2012-11-29 0000354046 fcst3:S000005459Member fcst3:InstMember 2011-11-30 2012-11-29 0000354046 fcst3:S000019187Member fcst3:InstMember 2011-11-30 2012-11-29 0000354046 fcst3:S000019188Member fcst3:InstMember 2011-11-30 2012-11-29 0000354046 fcst3:S000005456Member fcst3:InstMember 2011-11-30 2012-11-29 0000354046 fcst3:S000005458Member fcst3:InstMember 2011-11-30 2012-11-29 0000354046 fcst3:S000019189Member fcst3:InstMember 2011-11-30 2012-11-29 0000354046 fcst3:S000019188Member fcst3:AtbcMember 2011-11-30 2012-11-29 0000354046 fcst3:S000005456Member fcst3:AtbcMember 2011-11-30 2012-11-29 0000354046 fcst3:S000019189Member fcst3:AtbcMember 2011-11-30 2012-11-29 0000354046 fcst3:S000019188Member fcst3:RetailMember 2011-11-30 2012-11-29 0000354046 fcst3:S000005457Member fcst3:AtbcMember 2011-11-30 2012-11-29 0000354046 fcst3:S000005456Member fcst3:RetailMember 2011-11-30 2012-11-29 0000354046 fcst3:S000019187Member fcst3:AtbcMember 2011-11-30 2012-11-29 0000354046 fcst3:S000005458Member fcst3:AtbcMember 2011-11-30 2012-11-29 0000354046 fcst3:S000019189Member fcst3:RetailMember 2011-11-30 2012-11-29 0000354046 fcst3:S000005459Member fcst3:AtbcMember 2011-11-30 2012-11-29 0000354046 fcst3:S000005459Member fcst3:RetailMember 2011-11-30 2012-11-29 0000354046 fcst3:S000005458Member fcst3:RetailMember 2011-11-30 2012-11-29 0000354046 fcst3:S000005457Member fcst3:RetailMember 2011-11-30 2012-11-29 0000354046 fcst3:S000019187Member fcst3:RetailMember 2011-11-30 2012-11-29 2012-11-29 FIDELITY CHARLES STREET TRUST 0000354046 2013-01-02 2013-01-02 Other false 2012-09-30 <h2><font style="FONT-FAMILY: Times New Roman" size="5">Supplement to the<br/> Fidelity Asset Manager^&#174; Funds<br/> Fidelity Advisor Asset Manager^&#174; 20% Fidelity Advisor Asset Manager 30% Fidelity Advisor Asset Manager 40% Fidelity Advisor Asset Manager 50% Fidelity Advisor Asset Manager 60% Fidelity Advisor Asset Manager 70% Fidelity Advisor Asset Manager 85%<br/> Institutional Class<br/> November 29, 2012<br/> Prospectus</font></h2><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><i>The funds may invest in Fidelity</i>^&#174;<i> Commodity Strategy Central Fund (commodity central fund), which in turn invests in a wholly-owned subsidiary that invests in commodity-linked derivative instruments. Until December 31, 2012, Fidelity Management &amp; Research Company (FMR) had contractually agreed to waive each fund's management fee in an amount equal to its proportionate share of the management fee paid to FMR by the subsidiary based on the funds' proportionate ownership of the commodity central fund. These arrangements were terminated effective December 31, 2012, when Geode Capital Management, LLC, a registered commodity pool operator, was appointed as the manager of the commodity central fund and its subsidiary. Effective December 31, 2012, Geode has contractually agreed to waive the management fee it receives with respect to the commodity central fund in an amount equal to the management fee paid to Geode by the subsidiary. This reimbursement arrangement is unrelated to the expenses of the funds to which this prospectus relates.</i> </font></div> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 20% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;3. </font></div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><font style="FONT-FAMILY: Times New Roman" size="-2"> <b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.16%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.58%</font></div></td></tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 30% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;6. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div> <br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.24%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.66%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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. </i></font> </div> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 40% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;9. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div> <br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.25%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.67%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 50% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;12. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.25%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.76%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div> <br/><div align="left"><i><font style="FONT-FAMILY: Times New Roman" size="-1">The following information replaces the similar information for Fidelity Asset Manager 60% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;15.</font></i> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.28%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.85%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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. </i></font> </div><br/> <div align="left"><i><font style="FONT-FAMILY: Times New Roman" size="-1">The following information replaces the similar information for Fidelity Asset Manager 70% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;18.</font></i> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div> <br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.24%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.81%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 85% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;21. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.82%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font></div> <h2><font style="FONT-FAMILY: Times New Roman" size="5">Supplement to the<br/> Fidelity Asset Manager^&#174; Funds<br/> Fidelity Advisor Asset Manager^&#174; 20% Fidelity Advisor Asset Manager 30% Fidelity Advisor Asset Manager 40% Fidelity Advisor Asset Manager 50% Fidelity Advisor Asset Manager 60% Fidelity Advisor Asset Manager 70% Fidelity Advisor Asset Manager 85%<br/> Institutional Class<br/> November 29, 2012<br/> Prospectus</font></h2><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><i>The funds may invest in Fidelity</i>^&#174;<i> Commodity Strategy Central Fund (commodity central fund), which in turn invests in a wholly-owned subsidiary that invests in commodity-linked derivative instruments. Until December 31, 2012, Fidelity Management &amp; Research Company (FMR) had contractually agreed to waive each fund's management fee in an amount equal to its proportionate share of the management fee paid to FMR by the subsidiary based on the funds' proportionate ownership of the commodity central fund. These arrangements were terminated effective December 31, 2012, when Geode Capital Management, LLC, a registered commodity pool operator, was appointed as the manager of the commodity central fund and its subsidiary. Effective December 31, 2012, Geode has contractually agreed to waive the management fee it receives with respect to the commodity central fund in an amount equal to the management fee paid to Geode by the subsidiary. This reimbursement arrangement is unrelated to the expenses of the funds to which this prospectus relates.</i> </font></div> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 20% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;3. </font></div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><font style="FONT-FAMILY: Times New Roman" size="-2"> <b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.16%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.58%</font></div></td></tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 30% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;6. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div> <br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.24%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.66%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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. </i></font> </div> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 40% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;9. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div> <br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.25%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.67%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 50% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;12. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.25%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.76%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div> <br/><div align="left"><i><font style="FONT-FAMILY: Times New Roman" size="-1">The following information replaces the similar information for Fidelity Asset Manager 60% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;15.</font></i> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.28%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.85%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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. </i></font> </div><br/> <div align="left"><i><font style="FONT-FAMILY: Times New Roman" size="-1">The following information replaces the similar information for Fidelity Asset Manager 70% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;18.</font></i> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div> <br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.24%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.81%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 85% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;21. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.82%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font></div> <h2><font style="FONT-FAMILY: Times New Roman" size="5">Supplement to the<br/> Fidelity Asset Manager^&#174; Funds<br/> Fidelity Advisor Asset Manager^&#174; 20% Fidelity Advisor Asset Manager 30% Fidelity Advisor Asset Manager 40% Fidelity Advisor Asset Manager 50% Fidelity Advisor Asset Manager 60% Fidelity Advisor Asset Manager 70% Fidelity Advisor Asset Manager 85%<br/> Institutional Class<br/> November 29, 2012<br/> Prospectus</font></h2><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><i>The funds may invest in Fidelity</i>^&#174;<i> Commodity Strategy Central Fund (commodity central fund), which in turn invests in a wholly-owned subsidiary that invests in commodity-linked derivative instruments. Until December 31, 2012, Fidelity Management &amp; Research Company (FMR) had contractually agreed to waive each fund's management fee in an amount equal to its proportionate share of the management fee paid to FMR by the subsidiary based on the funds' proportionate ownership of the commodity central fund. These arrangements were terminated effective December 31, 2012, when Geode Capital Management, LLC, a registered commodity pool operator, was appointed as the manager of the commodity central fund and its subsidiary. Effective December 31, 2012, Geode has contractually agreed to waive the management fee it receives with respect to the commodity central fund in an amount equal to the management fee paid to Geode by the subsidiary. This reimbursement arrangement is unrelated to the expenses of the funds to which this prospectus relates.</i> </font></div> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 20% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;3. </font></div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><font style="FONT-FAMILY: Times New Roman" size="-2"> <b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.16%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.58%</font></div></td></tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 30% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;6. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div> <br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.24%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.66%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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. </i></font> </div> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 40% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;9. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div> <br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.25%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.67%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 50% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;12. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.25%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.76%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div> <br/><div align="left"><i><font style="FONT-FAMILY: Times New Roman" size="-1">The following information replaces the similar information for Fidelity Asset Manager 60% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;15.</font></i> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.28%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.85%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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. </i></font> </div><br/> <div align="left"><i><font style="FONT-FAMILY: Times New Roman" size="-1">The following information replaces the similar information for Fidelity Asset Manager 70% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;18.</font></i> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div> <br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.24%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.81%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 85% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;21. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.82%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font></div> <h2><font style="FONT-FAMILY: Times New Roman" size="5">Supplement to the<br/> Fidelity Asset Manager^&#174; Funds<br/> Fidelity Advisor Asset Manager^&#174; 20% Fidelity Advisor Asset Manager 30% Fidelity Advisor Asset Manager 40% Fidelity Advisor Asset Manager 50% Fidelity Advisor Asset Manager 60% Fidelity Advisor Asset Manager 70% Fidelity Advisor Asset Manager 85%<br/> Institutional Class<br/> November 29, 2012<br/> Prospectus</font></h2><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><i>The funds may invest in Fidelity</i>^&#174;<i> Commodity Strategy Central Fund (commodity central fund), which in turn invests in a wholly-owned subsidiary that invests in commodity-linked derivative instruments. Until December 31, 2012, Fidelity Management &amp; Research Company (FMR) had contractually agreed to waive each fund's management fee in an amount equal to its proportionate share of the management fee paid to FMR by the subsidiary based on the funds' proportionate ownership of the commodity central fund. These arrangements were terminated effective December 31, 2012, when Geode Capital Management, LLC, a registered commodity pool operator, was appointed as the manager of the commodity central fund and its subsidiary. Effective December 31, 2012, Geode has contractually agreed to waive the management fee it receives with respect to the commodity central fund in an amount equal to the management fee paid to Geode by the subsidiary. This reimbursement arrangement is unrelated to the expenses of the funds to which this prospectus relates.</i> </font></div> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 20% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;3. </font></div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><font style="FONT-FAMILY: Times New Roman" size="-2"> <b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.16%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.58%</font></div></td></tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 30% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;6. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div> <br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.24%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.66%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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. </i></font> </div> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 40% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;9. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div> <br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.25%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.67%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 50% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;12. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.25%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.76%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div> <br/><div align="left"><i><font style="FONT-FAMILY: Times New Roman" size="-1">The following information replaces the similar information for Fidelity Asset Manager 60% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;15.</font></i> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.28%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.85%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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. </i></font> </div><br/> <div align="left"><i><font style="FONT-FAMILY: Times New Roman" size="-1">The following information replaces the similar information for Fidelity Asset Manager 70% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;18.</font></i> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div> <br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.24%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.81%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 85% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;21. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.82%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font></div> <h2><font style="FONT-FAMILY: Times New Roman" size="5">Supplement to the<br/> Fidelity Asset Manager^&#174; Funds<br/> Fidelity Advisor Asset Manager^&#174; 20% Fidelity Advisor Asset Manager 30% Fidelity Advisor Asset Manager 40% Fidelity Advisor Asset Manager 50% Fidelity Advisor Asset Manager 60% Fidelity Advisor Asset Manager 70% Fidelity Advisor Asset Manager 85%<br/> Institutional Class<br/> November 29, 2012<br/> Prospectus</font></h2><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><i>The funds may invest in Fidelity</i>^&#174;<i> Commodity Strategy Central Fund (commodity central fund), which in turn invests in a wholly-owned subsidiary that invests in commodity-linked derivative instruments. Until December 31, 2012, Fidelity Management &amp; Research Company (FMR) had contractually agreed to waive each fund's management fee in an amount equal to its proportionate share of the management fee paid to FMR by the subsidiary based on the funds' proportionate ownership of the commodity central fund. These arrangements were terminated effective December 31, 2012, when Geode Capital Management, LLC, a registered commodity pool operator, was appointed as the manager of the commodity central fund and its subsidiary. Effective December 31, 2012, Geode has contractually agreed to waive the management fee it receives with respect to the commodity central fund in an amount equal to the management fee paid to Geode by the subsidiary. This reimbursement arrangement is unrelated to the expenses of the funds to which this prospectus relates.</i> </font></div> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 20% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;3. </font></div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><font style="FONT-FAMILY: Times New Roman" size="-2"> <b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.16%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.58%</font></div></td></tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 30% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;6. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div> <br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.24%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.66%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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. </i></font> </div> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 40% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;9. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div> <br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.25%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.67%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 50% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;12. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.25%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.76%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div> <br/><div align="left"><i><font style="FONT-FAMILY: Times New Roman" size="-1">The following information replaces the similar information for Fidelity Asset Manager 60% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;15.</font></i> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.28%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.85%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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. </i></font> </div><br/> <div align="left"><i><font style="FONT-FAMILY: Times New Roman" size="-1">The following information replaces the similar information for Fidelity Asset Manager 70% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;18.</font></i> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div> <br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.24%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.81%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 85% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;21. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.82%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font></div> <h2><font style="FONT-FAMILY: Times New Roman" size="5">Supplement to the<br/> Fidelity Asset Manager^&#174; Funds<br/> Fidelity Advisor Asset Manager^&#174; 20% Fidelity Advisor Asset Manager 30% Fidelity Advisor Asset Manager 40% Fidelity Advisor Asset Manager 50% Fidelity Advisor Asset Manager 60% Fidelity Advisor Asset Manager 70% Fidelity Advisor Asset Manager 85%<br/> Institutional Class<br/> November 29, 2012<br/> Prospectus</font></h2><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><i>The funds may invest in Fidelity</i>^&#174;<i> Commodity Strategy Central Fund (commodity central fund), which in turn invests in a wholly-owned subsidiary that invests in commodity-linked derivative instruments. Until December 31, 2012, Fidelity Management &amp; Research Company (FMR) had contractually agreed to waive each fund's management fee in an amount equal to its proportionate share of the management fee paid to FMR by the subsidiary based on the funds' proportionate ownership of the commodity central fund. These arrangements were terminated effective December 31, 2012, when Geode Capital Management, LLC, a registered commodity pool operator, was appointed as the manager of the commodity central fund and its subsidiary. Effective December 31, 2012, Geode has contractually agreed to waive the management fee it receives with respect to the commodity central fund in an amount equal to the management fee paid to Geode by the subsidiary. This reimbursement arrangement is unrelated to the expenses of the funds to which this prospectus relates.</i> </font></div> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 20% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;3. </font></div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><font style="FONT-FAMILY: Times New Roman" size="-2"> <b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.16%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.58%</font></div></td></tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 30% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;6. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div> <br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.24%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.66%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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. </i></font> </div> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 40% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;9. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div> <br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.25%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.67%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 50% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;12. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.25%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.76%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div> <br/><div align="left"><i><font style="FONT-FAMILY: Times New Roman" size="-1">The following information replaces the similar information for Fidelity Asset Manager 60% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;15.</font></i> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.28%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.85%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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. </i></font> </div><br/> <div align="left"><i><font style="FONT-FAMILY: Times New Roman" size="-1">The following information replaces the similar information for Fidelity Asset Manager 70% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;18.</font></i> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div> <br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.24%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.81%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 85% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;21. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.82%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font></div> <h2><font style="FONT-FAMILY: Times New Roman" size="5">Supplement to the<br/> Fidelity Asset Manager^&#174; Funds<br/> Fidelity Advisor Asset Manager^&#174; 20% Fidelity Advisor Asset Manager 30% Fidelity Advisor Asset Manager 40% Fidelity Advisor Asset Manager 50% Fidelity Advisor Asset Manager 60% Fidelity Advisor Asset Manager 70% Fidelity Advisor Asset Manager 85%<br/> Institutional Class<br/> November 29, 2012<br/> Prospectus</font></h2><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><i>The funds may invest in Fidelity</i>^&#174;<i> Commodity Strategy Central Fund (commodity central fund), which in turn invests in a wholly-owned subsidiary that invests in commodity-linked derivative instruments. Until December 31, 2012, Fidelity Management &amp; Research Company (FMR) had contractually agreed to waive each fund's management fee in an amount equal to its proportionate share of the management fee paid to FMR by the subsidiary based on the funds' proportionate ownership of the commodity central fund. These arrangements were terminated effective December 31, 2012, when Geode Capital Management, LLC, a registered commodity pool operator, was appointed as the manager of the commodity central fund and its subsidiary. Effective December 31, 2012, Geode has contractually agreed to waive the management fee it receives with respect to the commodity central fund in an amount equal to the management fee paid to Geode by the subsidiary. This reimbursement arrangement is unrelated to the expenses of the funds to which this prospectus relates.</i> </font></div> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 20% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;3. </font></div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><font style="FONT-FAMILY: Times New Roman" size="-2"> <b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.16%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.58%</font></div></td></tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 30% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;6. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div> <br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.24%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.66%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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. </i></font> </div> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 40% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;9. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div> <br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.25%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.67%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 50% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;12. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.25%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.76%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div> <br/><div align="left"><i><font style="FONT-FAMILY: Times New Roman" size="-1">The following information replaces the similar information for Fidelity Asset Manager 60% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;15.</font></i> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.28%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.85%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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. </i></font> </div><br/> <div align="left"><i><font style="FONT-FAMILY: Times New Roman" size="-1">The following information replaces the similar information for Fidelity Asset Manager 70% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;18.</font></i> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div> <br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.24%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.81%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 85% found under the heading "Fee Table" in the "Fund Summary" section on page&nbsp;21. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <b><font style="FONT-FAMILY: Times New Roman" size="-2">(expenses that you pay each year as a % of the value of your investment)</font></b> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font></div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.82%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font></div> <h2><font style="FONT-FAMILY: Times New Roman" size="5">Supplement to the<br/> Fidelity Asset Manager^&#174; Funds <br/> Fidelity Advisor Asset Manager^&#174; 20% Fidelity Advisor Asset Manager 30% Fidelity Advisor Asset Manager 40%<br/> Fidelity Advisor Asset Manager 50% Fidelity Advisor Asset Manager 60% Fidelity Advisor Asset Manager 70%<br/> Fidelity Advisor Asset Manager 85%<br/> Class A, Class T, Class&nbsp;B, and Class&nbsp;C<br/> November 29, 2012<br/> Prospectus</font></h2> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><i>The funds</i> <i>may invest in Fidelity</i>^&#174;<i> Commodity Strategy Central Fund (commodity central fund), which in turn invests in a wholly-owned subsidiary that invests in commodity-linked derivative instruments. Until December 31, 2012, Fidelity Management &amp; Research Company (FMR) had contractually agreed to waive each fund's management fee in an amount equal to its proportionate share of the management fee paid to FMR by the subsidiary based on the funds' proportionate ownership of the commodity central fund. These arrangements were terminated effective December 31, 2012, when Geode Capital Management, LLC, a registered commodity pool operator, was appointed as the manager of the commodity central fund and its subsidiary. Effective December 31, 2012, Geode has contractually agreed to waive the management fee it receives with respect to the commodity central fund in an amount equal to the management fee paid to Geode by the subsidiary. This reimbursement arrangement is unrelated to the expenses of the funds to which this prospectus relates.</i></font></div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 20% found under the heading "Fee Table" in the "Fund Summary" section on page 3.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.17%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.19%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.22%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.19%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.84%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.11%^A</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.64%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.61%^A</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 30% found under the heading "Fee Table" in the "Fund Summary" section on page 7.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td></tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.22%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.22%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.27%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.24%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.89%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.14%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.69%^A</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.66%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 40% found under the heading "Fee Table" in the "Fund Summary" section on page 11.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.24%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.25%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.29%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.26%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.91%^A</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.17%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.71%^A</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.68%^A</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 50% found under the heading "Fee Table" in the "Fund Summary" section on page 15.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td></tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.26%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.24%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.26%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.25%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.02%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.77%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.76%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 60% found under the heading "Fee Table" in the "Fund Summary" section on page 19.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.28%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.28%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.36%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.32%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.10%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.35%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.93%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.89%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 70% found under the heading "Fee Table" in the "Fund Summary" section on page 23.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.27%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.29%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.34%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.27%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.09%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.36%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.91%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.84%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 85% found under the heading "Fee Table" in the "Fund Summary" section on page 27.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.27%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.30%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.35%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.28%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.09%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.37%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.92%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.85%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div> <h2><font style="FONT-FAMILY: Times New Roman" size="5">Supplement to the<br/> Fidelity Asset Manager^&#174; Funds <br/> Fidelity Advisor Asset Manager^&#174; 20% Fidelity Advisor Asset Manager 30% Fidelity Advisor Asset Manager 40%<br/> Fidelity Advisor Asset Manager 50% Fidelity Advisor Asset Manager 60% Fidelity Advisor Asset Manager 70%<br/> Fidelity Advisor Asset Manager 85%<br/> Class A, Class T, Class&nbsp;B, and Class&nbsp;C<br/> November 29, 2012<br/> Prospectus</font></h2> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><i>The funds</i> <i>may invest in Fidelity</i>^&#174;<i> Commodity Strategy Central Fund (commodity central fund), which in turn invests in a wholly-owned subsidiary that invests in commodity-linked derivative instruments. Until December 31, 2012, Fidelity Management &amp; Research Company (FMR) had contractually agreed to waive each fund's management fee in an amount equal to its proportionate share of the management fee paid to FMR by the subsidiary based on the funds' proportionate ownership of the commodity central fund. These arrangements were terminated effective December 31, 2012, when Geode Capital Management, LLC, a registered commodity pool operator, was appointed as the manager of the commodity central fund and its subsidiary. Effective December 31, 2012, Geode has contractually agreed to waive the management fee it receives with respect to the commodity central fund in an amount equal to the management fee paid to Geode by the subsidiary. This reimbursement arrangement is unrelated to the expenses of the funds to which this prospectus relates.</i></font></div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 20% found under the heading "Fee Table" in the "Fund Summary" section on page 3.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.17%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.19%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.22%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.19%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.84%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.11%^A</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.64%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.61%^A</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 30% found under the heading "Fee Table" in the "Fund Summary" section on page 7.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td></tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.22%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.22%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.27%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.24%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.89%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.14%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.69%^A</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.66%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 40% found under the heading "Fee Table" in the "Fund Summary" section on page 11.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.24%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.25%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.29%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.26%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.91%^A</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.17%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.71%^A</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.68%^A</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 50% found under the heading "Fee Table" in the "Fund Summary" section on page 15.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td></tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.26%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.24%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.26%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.25%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.02%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.77%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.76%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 60% found under the heading "Fee Table" in the "Fund Summary" section on page 19.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.28%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.28%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.36%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.32%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.10%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.35%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.93%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.89%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 70% found under the heading "Fee Table" in the "Fund Summary" section on page 23.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.27%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.29%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.34%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.27%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.09%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.36%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.91%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.84%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 85% found under the heading "Fee Table" in the "Fund Summary" section on page 27.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.27%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.30%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.35%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.28%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.09%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.37%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.92%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.85%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div> <h2><font style="FONT-FAMILY: Times New Roman" size="5">Supplement to the<br/> Fidelity Asset Manager^&#174; Funds <br/> Fidelity Advisor Asset Manager^&#174; 20% Fidelity Advisor Asset Manager 30% Fidelity Advisor Asset Manager 40%<br/> Fidelity Advisor Asset Manager 50% Fidelity Advisor Asset Manager 60% Fidelity Advisor Asset Manager 70%<br/> Fidelity Advisor Asset Manager 85%<br/> Class A, Class T, Class&nbsp;B, and Class&nbsp;C<br/> November 29, 2012<br/> Prospectus</font></h2> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><i>The funds</i> <i>may invest in Fidelity</i>^&#174;<i> Commodity Strategy Central Fund (commodity central fund), which in turn invests in a wholly-owned subsidiary that invests in commodity-linked derivative instruments. Until December 31, 2012, Fidelity Management &amp; Research Company (FMR) had contractually agreed to waive each fund's management fee in an amount equal to its proportionate share of the management fee paid to FMR by the subsidiary based on the funds' proportionate ownership of the commodity central fund. These arrangements were terminated effective December 31, 2012, when Geode Capital Management, LLC, a registered commodity pool operator, was appointed as the manager of the commodity central fund and its subsidiary. Effective December 31, 2012, Geode has contractually agreed to waive the management fee it receives with respect to the commodity central fund in an amount equal to the management fee paid to Geode by the subsidiary. This reimbursement arrangement is unrelated to the expenses of the funds to which this prospectus relates.</i></font></div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 20% found under the heading "Fee Table" in the "Fund Summary" section on page 3.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.17%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.19%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.22%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.19%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.84%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.11%^A</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.64%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.61%^A</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 30% found under the heading "Fee Table" in the "Fund Summary" section on page 7.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td></tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.22%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.22%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.27%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.24%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.89%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.14%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.69%^A</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.66%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 40% found under the heading "Fee Table" in the "Fund Summary" section on page 11.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.24%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.25%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.29%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.26%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.91%^A</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.17%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.71%^A</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.68%^A</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 50% found under the heading "Fee Table" in the "Fund Summary" section on page 15.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td></tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.26%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.24%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.26%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.25%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.02%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.77%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.76%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 60% found under the heading "Fee Table" in the "Fund Summary" section on page 19.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.28%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.28%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.36%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.32%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.10%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.35%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.93%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.89%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 70% found under the heading "Fee Table" in the "Fund Summary" section on page 23.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.27%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.29%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.34%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.27%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.09%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.36%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.91%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.84%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 85% found under the heading "Fee Table" in the "Fund Summary" section on page 27.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.27%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.30%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.35%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.28%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.09%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.37%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.92%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.85%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div> <h2><font style="FONT-FAMILY: Times New Roman" size="5">Supplement to the<br/> Fidelity Asset Manager^&#174; Funds<br/> November 29, 2012<br/> Prospectus</font></h2><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"> <i>The funds may invest in Fidelity</i>^&#174;<i> Commodity Strategy Central Fund (commodity central fund), which in turn invests in a wholly-owned subsidiary that invests in commodity-linked derivative instruments. Until December 31, 2012, Fidelity Management &amp; Research Company (FMR) had contractually agreed to waive each fund's management fee in an amount equal to its proportionate share of the management fee paid to FMR by the subsidiary based on the funds' proportionate ownership of the commodity central fund. These arrangements were terminated effective December 31, 2012, when Geode Capital Management, LLC, a registered commodity pool operator, was appointed as the manager of the commodity central fund and its subsidiary. Effective December 31, 2012, Geode has contractually agreed to waive the management fee it receives with respect to the commodity central fund in an amount equal to the management fee paid to Geode by the subsidiary. This reimbursement arrangement is unrelated to the expenses of the funds to which this prospectus relates.</i></font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 20% found under the heading "Fee Table" in the "Fund Summary" section on page 3.</font></div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.12%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.54%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 30% found under the heading "Fee Table" in the "Fund Summary" section on page 6.</font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.17%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.59%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 40% found under the heading "Fee Table" in the "Fund Summary" section on page 9.</font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b><br/></font><font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b> </font></div> <br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.17%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.59%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 50% found under the heading "Fee Table" in the "Fund Summary" section on page 12.</font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b> </font><br/><font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b> </font></div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.19%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.70%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 60% found under the heading "Fee Table" in the "Fund Summary" section on page 15.</font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.21%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.78%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 70% found under the heading "Fee Table" in the "Fund Summary" section on page 18. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.20%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.77%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 85% found under the heading "Fee Table" in the "Fund Summary" section on page 21.</font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b> </font></div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.82%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font></div> <h2><font style="FONT-FAMILY: Times New Roman" size="5">Supplement to the<br/> Fidelity Asset Manager^&#174; Funds <br/> Fidelity Advisor Asset Manager^&#174; 20% Fidelity Advisor Asset Manager 30% Fidelity Advisor Asset Manager 40%<br/> Fidelity Advisor Asset Manager 50% Fidelity Advisor Asset Manager 60% Fidelity Advisor Asset Manager 70%<br/> Fidelity Advisor Asset Manager 85%<br/> Class A, Class T, Class&nbsp;B, and Class&nbsp;C<br/> November 29, 2012<br/> Prospectus</font></h2> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><i>The funds</i> <i>may invest in Fidelity</i>^&#174;<i> Commodity Strategy Central Fund (commodity central fund), which in turn invests in a wholly-owned subsidiary that invests in commodity-linked derivative instruments. Until December 31, 2012, Fidelity Management &amp; Research Company (FMR) had contractually agreed to waive each fund's management fee in an amount equal to its proportionate share of the management fee paid to FMR by the subsidiary based on the funds' proportionate ownership of the commodity central fund. These arrangements were terminated effective December 31, 2012, when Geode Capital Management, LLC, a registered commodity pool operator, was appointed as the manager of the commodity central fund and its subsidiary. Effective December 31, 2012, Geode has contractually agreed to waive the management fee it receives with respect to the commodity central fund in an amount equal to the management fee paid to Geode by the subsidiary. This reimbursement arrangement is unrelated to the expenses of the funds to which this prospectus relates.</i></font></div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 20% found under the heading "Fee Table" in the "Fund Summary" section on page 3.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.17%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.19%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.22%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.19%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.84%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.11%^A</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.64%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.61%^A</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 30% found under the heading "Fee Table" in the "Fund Summary" section on page 7.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td></tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.22%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.22%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.27%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.24%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.89%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.14%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.69%^A</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.66%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 40% found under the heading "Fee Table" in the "Fund Summary" section on page 11.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.24%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.25%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.29%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.26%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.91%^A</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.17%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.71%^A</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.68%^A</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 50% found under the heading "Fee Table" in the "Fund Summary" section on page 15.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td></tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.26%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.24%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.26%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.25%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.02%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.77%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.76%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 60% found under the heading "Fee Table" in the "Fund Summary" section on page 19.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.28%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.28%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.36%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.32%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.10%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.35%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.93%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.89%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 70% found under the heading "Fee Table" in the "Fund Summary" section on page 23.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.27%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.29%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.34%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.27%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.09%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.36%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.91%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.84%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 85% found under the heading "Fee Table" in the "Fund Summary" section on page 27.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.27%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.30%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.35%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.28%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.09%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.37%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.92%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.85%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div> <h2><font style="FONT-FAMILY: Times New Roman" size="5">Supplement to the<br/> Fidelity Asset Manager^&#174; Funds<br/> November 29, 2012<br/> Prospectus</font></h2><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"> <i>The funds may invest in Fidelity</i>^&#174;<i> Commodity Strategy Central Fund (commodity central fund), which in turn invests in a wholly-owned subsidiary that invests in commodity-linked derivative instruments. Until December 31, 2012, Fidelity Management &amp; Research Company (FMR) had contractually agreed to waive each fund's management fee in an amount equal to its proportionate share of the management fee paid to FMR by the subsidiary based on the funds' proportionate ownership of the commodity central fund. These arrangements were terminated effective December 31, 2012, when Geode Capital Management, LLC, a registered commodity pool operator, was appointed as the manager of the commodity central fund and its subsidiary. Effective December 31, 2012, Geode has contractually agreed to waive the management fee it receives with respect to the commodity central fund in an amount equal to the management fee paid to Geode by the subsidiary. This reimbursement arrangement is unrelated to the expenses of the funds to which this prospectus relates.</i></font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 20% found under the heading "Fee Table" in the "Fund Summary" section on page 3.</font></div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.12%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.54%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 30% found under the heading "Fee Table" in the "Fund Summary" section on page 6.</font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.17%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.59%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 40% found under the heading "Fee Table" in the "Fund Summary" section on page 9.</font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b><br/></font><font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b> </font></div> <br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.17%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.59%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 50% found under the heading "Fee Table" in the "Fund Summary" section on page 12.</font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b> </font><br/><font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b> </font></div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.19%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.70%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 60% found under the heading "Fee Table" in the "Fund Summary" section on page 15.</font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.21%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.78%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 70% found under the heading "Fee Table" in the "Fund Summary" section on page 18. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.20%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.77%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 85% found under the heading "Fee Table" in the "Fund Summary" section on page 21.</font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b> </font></div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.82%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font></div> <h2><font style="FONT-FAMILY: Times New Roman" size="5">Supplement to the<br/> Fidelity Asset Manager^&#174; Funds <br/> Fidelity Advisor Asset Manager^&#174; 20% Fidelity Advisor Asset Manager 30% Fidelity Advisor Asset Manager 40%<br/> Fidelity Advisor Asset Manager 50% Fidelity Advisor Asset Manager 60% Fidelity Advisor Asset Manager 70%<br/> Fidelity Advisor Asset Manager 85%<br/> Class A, Class T, Class&nbsp;B, and Class&nbsp;C<br/> November 29, 2012<br/> Prospectus</font></h2> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><i>The funds</i> <i>may invest in Fidelity</i>^&#174;<i> Commodity Strategy Central Fund (commodity central fund), which in turn invests in a wholly-owned subsidiary that invests in commodity-linked derivative instruments. Until December 31, 2012, Fidelity Management &amp; Research Company (FMR) had contractually agreed to waive each fund's management fee in an amount equal to its proportionate share of the management fee paid to FMR by the subsidiary based on the funds' proportionate ownership of the commodity central fund. These arrangements were terminated effective December 31, 2012, when Geode Capital Management, LLC, a registered commodity pool operator, was appointed as the manager of the commodity central fund and its subsidiary. Effective December 31, 2012, Geode has contractually agreed to waive the management fee it receives with respect to the commodity central fund in an amount equal to the management fee paid to Geode by the subsidiary. This reimbursement arrangement is unrelated to the expenses of the funds to which this prospectus relates.</i></font></div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 20% found under the heading "Fee Table" in the "Fund Summary" section on page 3.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.17%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.19%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.22%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.19%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.84%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.11%^A</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.64%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.61%^A</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 30% found under the heading "Fee Table" in the "Fund Summary" section on page 7.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td></tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.22%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.22%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.27%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.24%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.89%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.14%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.69%^A</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.66%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 40% found under the heading "Fee Table" in the "Fund Summary" section on page 11.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.24%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.25%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.29%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.26%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.91%^A</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.17%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.71%^A</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.68%^A</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 50% found under the heading "Fee Table" in the "Fund Summary" section on page 15.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td></tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.26%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.24%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.26%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.25%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.02%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.77%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.76%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 60% found under the heading "Fee Table" in the "Fund Summary" section on page 19.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.28%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.28%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.36%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.32%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.10%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.35%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.93%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.89%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 70% found under the heading "Fee Table" in the "Fund Summary" section on page 23.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.27%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.29%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.34%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.27%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.09%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.36%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.91%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.84%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 85% found under the heading "Fee Table" in the "Fund Summary" section on page 27.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.27%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.30%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.35%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.28%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.09%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.37%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.92%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.85%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div> <h2><font style="FONT-FAMILY: Times New Roman" size="5">Supplement to the<br/> Fidelity Asset Manager^&#174; Funds <br/> Fidelity Advisor Asset Manager^&#174; 20% Fidelity Advisor Asset Manager 30% Fidelity Advisor Asset Manager 40%<br/> Fidelity Advisor Asset Manager 50% Fidelity Advisor Asset Manager 60% Fidelity Advisor Asset Manager 70%<br/> Fidelity Advisor Asset Manager 85%<br/> Class A, Class T, Class&nbsp;B, and Class&nbsp;C<br/> November 29, 2012<br/> Prospectus</font></h2> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><i>The funds</i> <i>may invest in Fidelity</i>^&#174;<i> Commodity Strategy Central Fund (commodity central fund), which in turn invests in a wholly-owned subsidiary that invests in commodity-linked derivative instruments. Until December 31, 2012, Fidelity Management &amp; Research Company (FMR) had contractually agreed to waive each fund's management fee in an amount equal to its proportionate share of the management fee paid to FMR by the subsidiary based on the funds' proportionate ownership of the commodity central fund. These arrangements were terminated effective December 31, 2012, when Geode Capital Management, LLC, a registered commodity pool operator, was appointed as the manager of the commodity central fund and its subsidiary. Effective December 31, 2012, Geode has contractually agreed to waive the management fee it receives with respect to the commodity central fund in an amount equal to the management fee paid to Geode by the subsidiary. This reimbursement arrangement is unrelated to the expenses of the funds to which this prospectus relates.</i></font></div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 20% found under the heading "Fee Table" in the "Fund Summary" section on page 3.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.17%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.19%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.22%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.19%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.84%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.11%^A</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.64%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.61%^A</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 30% found under the heading "Fee Table" in the "Fund Summary" section on page 7.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td></tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.22%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.22%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.27%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.24%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.89%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.14%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.69%^A</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.66%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 40% found under the heading "Fee Table" in the "Fund Summary" section on page 11.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.24%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.25%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.29%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.26%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.91%^A</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.17%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.71%^A</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.68%^A</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 50% found under the heading "Fee Table" in the "Fund Summary" section on page 15.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td></tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.26%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.24%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.26%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.25%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.02%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.77%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.76%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 60% found under the heading "Fee Table" in the "Fund Summary" section on page 19.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.28%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.28%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.36%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.32%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.10%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.35%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.93%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.89%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 70% found under the heading "Fee Table" in the "Fund Summary" section on page 23.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.27%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.29%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.34%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.27%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.09%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.36%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.91%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.84%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 85% found under the heading "Fee Table" in the "Fund Summary" section on page 27.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.27%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.30%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.35%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.28%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.09%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.37%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.92%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.85%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div> <h2><font style="FONT-FAMILY: Times New Roman" size="5">Supplement to the<br/> Fidelity Asset Manager^&#174; Funds<br/> November 29, 2012<br/> Prospectus</font></h2><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"> <i>The funds may invest in Fidelity</i>^&#174;<i> Commodity Strategy Central Fund (commodity central fund), which in turn invests in a wholly-owned subsidiary that invests in commodity-linked derivative instruments. Until December 31, 2012, Fidelity Management &amp; Research Company (FMR) had contractually agreed to waive each fund's management fee in an amount equal to its proportionate share of the management fee paid to FMR by the subsidiary based on the funds' proportionate ownership of the commodity central fund. These arrangements were terminated effective December 31, 2012, when Geode Capital Management, LLC, a registered commodity pool operator, was appointed as the manager of the commodity central fund and its subsidiary. Effective December 31, 2012, Geode has contractually agreed to waive the management fee it receives with respect to the commodity central fund in an amount equal to the management fee paid to Geode by the subsidiary. This reimbursement arrangement is unrelated to the expenses of the funds to which this prospectus relates.</i></font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 20% found under the heading "Fee Table" in the "Fund Summary" section on page 3.</font></div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.12%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.54%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 30% found under the heading "Fee Table" in the "Fund Summary" section on page 6.</font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.17%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.59%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 40% found under the heading "Fee Table" in the "Fund Summary" section on page 9.</font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b><br/></font><font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b> </font></div> <br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.17%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.59%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 50% found under the heading "Fee Table" in the "Fund Summary" section on page 12.</font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b> </font><br/><font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b> </font></div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.19%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.70%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 60% found under the heading "Fee Table" in the "Fund Summary" section on page 15.</font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.21%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.78%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 70% found under the heading "Fee Table" in the "Fund Summary" section on page 18. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.20%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.77%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 85% found under the heading "Fee Table" in the "Fund Summary" section on page 21.</font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b> </font></div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.82%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font></div> <h2><font style="FONT-FAMILY: Times New Roman" size="5">Supplement to the<br/> Fidelity Asset Manager^&#174; Funds <br/> Fidelity Advisor Asset Manager^&#174; 20% Fidelity Advisor Asset Manager 30% Fidelity Advisor Asset Manager 40%<br/> Fidelity Advisor Asset Manager 50% Fidelity Advisor Asset Manager 60% Fidelity Advisor Asset Manager 70%<br/> Fidelity Advisor Asset Manager 85%<br/> Class A, Class T, Class&nbsp;B, and Class&nbsp;C<br/> November 29, 2012<br/> Prospectus</font></h2> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><i>The funds</i> <i>may invest in Fidelity</i>^&#174;<i> Commodity Strategy Central Fund (commodity central fund), which in turn invests in a wholly-owned subsidiary that invests in commodity-linked derivative instruments. Until December 31, 2012, Fidelity Management &amp; Research Company (FMR) had contractually agreed to waive each fund's management fee in an amount equal to its proportionate share of the management fee paid to FMR by the subsidiary based on the funds' proportionate ownership of the commodity central fund. These arrangements were terminated effective December 31, 2012, when Geode Capital Management, LLC, a registered commodity pool operator, was appointed as the manager of the commodity central fund and its subsidiary. Effective December 31, 2012, Geode has contractually agreed to waive the management fee it receives with respect to the commodity central fund in an amount equal to the management fee paid to Geode by the subsidiary. This reimbursement arrangement is unrelated to the expenses of the funds to which this prospectus relates.</i></font></div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 20% found under the heading "Fee Table" in the "Fund Summary" section on page 3.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.17%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.19%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.22%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.19%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.84%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.11%^A</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.64%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.61%^A</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 30% found under the heading "Fee Table" in the "Fund Summary" section on page 7.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td></tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.22%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.22%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.27%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.24%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.89%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.14%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.69%^A</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.66%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 40% found under the heading "Fee Table" in the "Fund Summary" section on page 11.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.24%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.25%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.29%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.26%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.91%^A</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.17%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.71%^A</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.68%^A</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 50% found under the heading "Fee Table" in the "Fund Summary" section on page 15.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td></tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.26%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.24%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.26%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.25%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.02%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.77%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.76%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 60% found under the heading "Fee Table" in the "Fund Summary" section on page 19.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.28%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.28%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.36%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.32%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.10%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.35%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.93%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.89%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 70% found under the heading "Fee Table" in the "Fund Summary" section on page 23.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.27%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.29%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.34%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.27%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.09%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.36%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.91%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.84%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 85% found under the heading "Fee Table" in the "Fund Summary" section on page 27.</font></div><br/><div align="left"> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses </b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> </div><br/><table width="95%" border=""><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class A</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class T</b></font></center><br/></td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class B</b></font></center><br/></td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="3"><b>&nbsp;</b></font></center> </td> <td align="center" valign="bottom"><center><font style="FONT-FAMILY: Times New Roman" size="2"><b>Class C</b></font></center><br/></td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.50%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.00%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.27%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.30%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.35%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.28%</font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>&nbsp;</u></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr><tr> <td align="left" valign="bottom"> <div align="left"><b><font style="FONT-FAMILY: Times New Roman" size="-1">Total annual operating expenses^A</font></b> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.09%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.37%</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.92%</font> </div> </td> <td align="center" valign="bottom"> <div align="center"><font size="-2">&nbsp;</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">1.85%</font> </div> </td> </tr></table><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^{A<i> </i>}<i>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.</i></font> </div> <h2><font style="FONT-FAMILY: Times New Roman" size="5">Supplement to the<br/> Fidelity Asset Manager^&#174; Funds<br/> November 29, 2012<br/> Prospectus</font></h2><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"> <i>The funds may invest in Fidelity</i>^&#174;<i> Commodity Strategy Central Fund (commodity central fund), which in turn invests in a wholly-owned subsidiary that invests in commodity-linked derivative instruments. Until December 31, 2012, Fidelity Management &amp; Research Company (FMR) had contractually agreed to waive each fund's management fee in an amount equal to its proportionate share of the management fee paid to FMR by the subsidiary based on the funds' proportionate ownership of the commodity central fund. These arrangements were terminated effective December 31, 2012, when Geode Capital Management, LLC, a registered commodity pool operator, was appointed as the manager of the commodity central fund and its subsidiary. Effective December 31, 2012, Geode has contractually agreed to waive the management fee it receives with respect to the commodity central fund in an amount equal to the management fee paid to Geode by the subsidiary. This reimbursement arrangement is unrelated to the expenses of the funds to which this prospectus relates.</i></font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 20% found under the heading "Fee Table" in the "Fund Summary" section on page 3.</font></div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.12%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.54%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 30% found under the heading "Fee Table" in the "Fund Summary" section on page 6.</font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.17%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.59%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 40% found under the heading "Fee Table" in the "Fund Summary" section on page 9.</font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b><br/></font><font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b> </font></div> <br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.17%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.59%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 50% found under the heading "Fee Table" in the "Fund Summary" section on page 12.</font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b> </font><br/><font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b> </font></div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.19%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.70%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 60% found under the heading "Fee Table" in the "Fund Summary" section on page 15.</font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.21%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.78%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 70% found under the heading "Fee Table" in the "Fund Summary" section on page 18. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.20%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.77%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 85% found under the heading "Fee Table" in the "Fund Summary" section on page 21.</font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b> </font></div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.82%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font></div> <h2><font style="FONT-FAMILY: Times New Roman" size="5">Supplement to the<br/> Fidelity Asset Manager^&#174; Funds<br/> November 29, 2012<br/> Prospectus</font></h2><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"> <i>The funds may invest in Fidelity</i>^&#174;<i> Commodity Strategy Central Fund (commodity central fund), which in turn invests in a wholly-owned subsidiary that invests in commodity-linked derivative instruments. Until December 31, 2012, Fidelity Management &amp; Research Company (FMR) had contractually agreed to waive each fund's management fee in an amount equal to its proportionate share of the management fee paid to FMR by the subsidiary based on the funds' proportionate ownership of the commodity central fund. These arrangements were terminated effective December 31, 2012, when Geode Capital Management, LLC, a registered commodity pool operator, was appointed as the manager of the commodity central fund and its subsidiary. Effective December 31, 2012, Geode has contractually agreed to waive the management fee it receives with respect to the commodity central fund in an amount equal to the management fee paid to Geode by the subsidiary. This reimbursement arrangement is unrelated to the expenses of the funds to which this prospectus relates.</i></font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 20% found under the heading "Fee Table" in the "Fund Summary" section on page 3.</font></div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.12%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.54%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 30% found under the heading "Fee Table" in the "Fund Summary" section on page 6.</font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.17%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.59%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 40% found under the heading "Fee Table" in the "Fund Summary" section on page 9.</font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b><br/></font><font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b> </font></div> <br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.17%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.59%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 50% found under the heading "Fee Table" in the "Fund Summary" section on page 12.</font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b> </font><br/><font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b> </font></div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.19%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.70%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 60% found under the heading "Fee Table" in the "Fund Summary" section on page 15.</font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.21%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.78%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 70% found under the heading "Fee Table" in the "Fund Summary" section on page 18. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.20%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.77%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 85% found under the heading "Fee Table" in the "Fund Summary" section on page 21.</font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b> </font></div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.82%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font></div> <h2><font style="FONT-FAMILY: Times New Roman" size="5">Supplement to the<br/> Fidelity Asset Manager^&#174; Funds<br/> November 29, 2012<br/> Prospectus</font></h2><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"> <i>The funds may invest in Fidelity</i>^&#174;<i> Commodity Strategy Central Fund (commodity central fund), which in turn invests in a wholly-owned subsidiary that invests in commodity-linked derivative instruments. Until December 31, 2012, Fidelity Management &amp; Research Company (FMR) had contractually agreed to waive each fund's management fee in an amount equal to its proportionate share of the management fee paid to FMR by the subsidiary based on the funds' proportionate ownership of the commodity central fund. These arrangements were terminated effective December 31, 2012, when Geode Capital Management, LLC, a registered commodity pool operator, was appointed as the manager of the commodity central fund and its subsidiary. Effective December 31, 2012, Geode has contractually agreed to waive the management fee it receives with respect to the commodity central fund in an amount equal to the management fee paid to Geode by the subsidiary. This reimbursement arrangement is unrelated to the expenses of the funds to which this prospectus relates.</i></font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 20% found under the heading "Fee Table" in the "Fund Summary" section on page 3.</font></div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.12%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.54%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 30% found under the heading "Fee Table" in the "Fund Summary" section on page 6.</font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.17%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.59%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 40% found under the heading "Fee Table" in the "Fund Summary" section on page 9.</font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b><br/></font><font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b> </font></div> <br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.17%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.59%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 50% found under the heading "Fee Table" in the "Fund Summary" section on page 12.</font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b> </font><br/><font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b> </font></div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.19%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.70%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 60% found under the heading "Fee Table" in the "Fund Summary" section on page 15.</font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.21%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.78%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 70% found under the heading "Fee Table" in the "Fund Summary" section on page 18. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.20%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.77%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 85% found under the heading "Fee Table" in the "Fund Summary" section on page 21.</font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b> </font></div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.82%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font></div> <h2><font style="FONT-FAMILY: Times New Roman" size="5">Supplement to the<br/> Fidelity Asset Manager^&#174; Funds<br/> November 29, 2012<br/> Prospectus</font></h2><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"> <i>The funds may invest in Fidelity</i>^&#174;<i> Commodity Strategy Central Fund (commodity central fund), which in turn invests in a wholly-owned subsidiary that invests in commodity-linked derivative instruments. Until December 31, 2012, Fidelity Management &amp; Research Company (FMR) had contractually agreed to waive each fund's management fee in an amount equal to its proportionate share of the management fee paid to FMR by the subsidiary based on the funds' proportionate ownership of the commodity central fund. These arrangements were terminated effective December 31, 2012, when Geode Capital Management, LLC, a registered commodity pool operator, was appointed as the manager of the commodity central fund and its subsidiary. Effective December 31, 2012, Geode has contractually agreed to waive the management fee it receives with respect to the commodity central fund in an amount equal to the management fee paid to Geode by the subsidiary. This reimbursement arrangement is unrelated to the expenses of the funds to which this prospectus relates.</i></font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 20% found under the heading "Fee Table" in the "Fund Summary" section on page 3.</font></div><br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.12%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.54%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 30% found under the heading "Fee Table" in the "Fund Summary" section on page 6.</font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.17%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.59%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 40% found under the heading "Fee Table" in the "Fund Summary" section on page 9.</font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b><br/></font><font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b> </font></div> <br/><table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.42%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.17%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.59%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 50% found under the heading "Fee Table" in the "Fund Summary" section on page 12.</font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b> </font><br/><font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b> </font></div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.51%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.19%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.70%</font> </div> </td> </tr> </table> <br/><div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 60% found under the heading "Fee Table" in the "Fund Summary" section on page 15.</font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.21%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.78%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 70% found under the heading "Fee Table" in the "Fund Summary" section on page 18. </font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.20%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b></font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.77%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font> </div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3">The following information replaces the similar information for Fidelity Asset Manager 85% found under the heading "Fee Table" in the "Fund Summary" section on page 21.</font></div><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/> <font style="FONT-FAMILY: Times New Roman" size="-2"><b>(expenses that you pay each year as a % of the value of your investment) </b></font> </div><br/> <table width="95%" border=""> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Management fee</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.56%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Distribution and/or Service (12b-1) fees</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">None</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Other expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.25%</font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">Acquired fund fees and expenses</font> </div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1"><u>0.01%</u></font> </div> </td> </tr> <tr> <td align="left" valign="bottom"> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1"><b>Total annual operating expenses^A</b> </font></div> </td> <td align="center" valign="bottom"> <div align="right"><font style="FONT-FAMILY: Times New Roman" size="-1">0.82%</font> </div> </td> </tr> </table><br/> <div align="left"><font style="FONT-FAMILY: Times New Roman" size="-1">^A<i>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.</i></font></div>