Supplement to the
Fidelity^® Asset Manager^SM Funds
November 29, 2003
Prospectus

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<R>The following information replaces similar information for Asset Manager found under the heading "Dividends and Capital Gain Distributions" on page 17.</R>

<R>Asset Manager normally pays dividends in March, June, September, and December and pays capital gain distributions in April, July, October, and December.</R>

<R>FFM-04-02 October 5, 2004
1.471528.111</R>