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Douglas Simmons

Portfolio manager of four and co-manager of five Fidelity portfolios related to Utilities and Telecommunications

Biography

Douglas Simmons is a portfolio manager for Fidelity Management & Research Company (FMRCo). He joined Fidelity in 2003 to cover environmental and electric and gas utility stocks. Mr. Simmons currently manages Fidelity Telecom and Utilities Fund, Select Utilities Portfolio, Fidelity Advisor Utilities Fund, and VIP Utilities Portfolio, and co-manages VIP Contrafund Portfolio, Fidelity Series Broad Market Opportunities Fund, Fidelity Stock Selector All Cap Fund, Fidelity Advisor Stock Selector All Cap Fund, and Fidelity Advisor Stock Selector Mid-Cap Fund. He also is a member of the Stock Selector Large-Cap Group.

Mr. Simmons brought a wealth of investment experience in the power and utilities sector to Fidelity. Prior to joining the firm in 2003, he pursued his passion for investing through his work in investment banking and private equity. From 1999 to 2001, he was a financial analyst specializing in leveraged buyouts for Hicks, Muse, Tate & Furst, a private equity firm in his native Dallas, Texas. In private equity, Mr. Simmons focused on analyzing leveraged buyout candidates in the Energy and Industrials sectors. From 1997 to 1999, he worked as an investment banking analyst in the Energy sector for Morgan Stanley & Co. in Houston, Texas.

Mr. Simmons earned a BA in business administration from the University of Texas at Austin in 1997, graduating with highest honors. He also received an MBA from Harvard Business School in 2003.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information.  Read it carefully.

Stock markets, especially foreign markets, are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Sector funds can be more volatile because of their narrow concentration in a specific industry.

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