*MSCI U.S. Investable Market Health Care 25/50 Index return for 2013. Source: Fidelity.com. The MSCI U.S. IM Health Care 25/50 Index is a modified market capitalization-weight index of stocks designed to measure the performance of health care companies in the MSCI U.S. Investable Market 2500 Index. The MSCI U.S. Investable Market 2500 Index is the aggregation of the MSCI U.S. Large Cap 300, Mid Cap 450, Small Cap 1750 indexes.
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As with all your investments through Fidelity, you must make your own determination as to whether an investment in any particular security or securities is consistent with your investment objectives, risk tolerance, financial situation, and evaluation of the security.
In general, the bond market is volatile, and fixed-income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk, liquidity risk, call risk, and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so holding them until maturity to avoid losses caused by price volatility is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes because of potential changes in the credit quality of the issuer.
The stocks mentioned are not necessarily holdings invested in by FMR LLC. References to specific company stocks should not be construed as recommendations or investment advice.
As of January 31, 2014 The Fidelity® International Capital Appreciation Fund held 0.7% of assets in British American Tobacco PLC, 0.346% in Sumimoto Mitsui Trust Holdings, Inc., 0.351% in Orix Corp., 0.261% in SouFun Holdings Ltd. ADR, 0.258% in Shoprite Holdings Ltd., and 0.273% in Guaranty Trust Bank PLC.
As of February 28, 2014, the Nuveen Large Cap Growth Fund held 4.1% of assets in Microsoft, 1.4% in Google Inc., 2.4% in Oracle. The Nuveen Large Cap Value Fund held 3.2% of assets in Pfizer Inc., 1.9% in UnitedHealth Group Inc., and 1.6% in Hewlett-Packard Co.
As of January 31, 2014, the Fidelity Select Health Care Fund held 4.3% of assets in Biogen Idec, Inc. 3.5% in Illumina Inc., 4.3% in Alexion Pharmaceuticals, Inc., 2.275% in Cerner Corp., 0.258% in Castlight Health, Inc. Series D.
As of December 31, 2013, the Putnam Capital Spectrum Fund held 13.46% of assets in Dish Network, 1.34% in Ocwen Financial Corp., 1.13% in Altisource Residential (RESI), and 0.05% in Altisource Portfolio Solutions (ASPS).
Fidelity is not recommending or endorsing any investment by making it available to its customers.
Past performance is no guarantee of future results.
Diversification and asset allocation do not ensure a profit or guarantee against loss.
Stock markets are volatile and can fluctuate significantly in response to company, industry, political, regulatory, market, or economic developments. Investing in stock involves risk, including the possible loss of principal.
Foreign markets can be more volatile than U.S. markets because of increased risks of adverse issuer, political, market, or economic developments, all of which are magnified in emerging markets. These risks are particularly significant for funds that focus on a single country or region.
S&P 500 is a registered service mark of Standard & Poor's Financial Services LLC.
Sector funds can be more volatile because of their narrow concentration in a specific industry.
Certain investment firms whose funds are available through the FundsNetwork® program for Fidelity were offered the opportunity to participate in this event. Fidelity considered a variety of factors when making the final firm selection. Firms may compensate Fidelity for participating in this event, including reimbursement for expenses.
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