¹ Fidelity Private Portfolio Service^® (PPS) applies tax–sensitive investment management techniques (including tax–loss harvesting) on a limited basis, at its discretion, primarily with respect to determining when assets in a client’s account should be bought or sold. As a discretionary investment management service, any assets contributed to an investor’s account which PPS does not elect to retain may be sold at any time after contribution. An investor may have a gain or loss when assets are sold.

² Source: ^©2009 Morningstar, Inc. Federal income tax is calculated using the historical marginal and capital gains tax rates for a single taxpayer earning $100,000 in 2005 dollars every year. This annual income is adjusted using the Consumer Price Index in order to obtain the corresponding income level for each year. Income is taxed at the appropriate federal income tax rate as it occurs. When realized, capital gains are calculated assuming the appropriate capital gains rates. The holding period for capital gains tax calculation is assumed to be five years for stocks, while government bonds are held until replaced in the index. No state income taxes are included. Stocks in this example are represented by the Standard & Poor’s 500®, which is an unmanaged group of securities and considered to be representative of the stock market in general. Government bonds are represented by the 20-year U.S. government bond, cash by the 30-day U.S. Treasury bill, and inflation by the Consumer Price Index. An investment cannot be made directly in an index. The data assumes reinvestment of income and does not account for transaction costs.

Past performance is no guarantee of future results.

Fidelity Private Portfolio Service^® may be offered through the following Fidelity Investments companies: Strategic Advisers, Inc., a registered investment adviser; Fidelity Personal Trust Company, FSB ("FPT"), a federal savings bank; or Fidelity Management Trust Company ("FMTC"). Non–deposit investment products and trust services offered through FPT and FMTC and their affiliates are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency, are not obligations of any bank, and are subject to risk, including possible loss of principal. This service provides discretionary money management for a fee.

Brokerage services provided by Fidelity Brokerage Services LLC, a Fidelity Investments company and a Member of NYSE and SIPC. Custody and other services provided by National Financial Services LLC, a Fidelity Investments company and a Member of NYSE and SIPC.

Diversification and/or asset allocation do not ensure a profit or protect against loss.

Important information about transferring, re–registering your account and the Treasury guarantee program for money market funds.

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