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Compounded Fidelity India SpecialAnnualised Returns Situations Fund BSE 200

1 year 37.94% 29.59%

3 years 6.49% 1.38%

Since inception 17.05% 16.63%

Date of Allotment May 22, 2006

Investment Objective To generate long-term capital growth from a diversified portfolio of predominantlyequity and equity related securities.

Asset AllocationPattern

Types of Instruments Normal Allocation (% of net assets) Risk Profile

Equity and equity related securities* 80 to 100 High

Money market instruments 0 to 20 Low to Medium

* Includes investments in Offshore securities, ADRs and GDRs not exceeding 10% of the net assets of the Scheme subject to SEBI Guidelines. In respect ofFidelity India Special Situations Fund, also includes investments in equity derivatives.

Options Growth and Dividend. The Dividend Option offers Payout and Reinvestment facilities.

Minimum Application Size(Lumpsum Investmentper Application)

Initial Investment Additional Investment

Rs. 5,000 Rs. 1,000

Benchmark Index BSE 200 Index

Dividend Policy

FIDELITY EQUITY FUND (FEF)

The Trustee may decide to distribute by way of dividend, the surplus by way of realised profit, dividends and interest, net of losses, expenses and taxes, if any, to UnitHolders in the dividend option of the Scheme if such surplus is available and adequate for distribution in the opinion of the Trustee. The Trustee's decision with regardto availability and adequacy, rate, timing and frequency of distribution shall be final. The dividend will be due to only those Unit Holders whose names appear in the registerof Unit Holders in the dividend option of the Scheme on the record date which will be fixed by the Trustees and announced in advance. Further, the NAV shall be adjustedto the extent of dividend distribution and statutory levy, if any, at the close of business hours on record date. Within one day of the decision by the Trustees regardingdividend distribution rate and record date, AMC shall issue notice to the public communicating the decision including the record date. The record date shall be 5 calendardays from the issue of notice. Such notice shall be given in one English daily newspaper having nationwide circulation as well as in a newspaper published in the languageof the region where the head office of the mutual fund is situated. The Unit Holders will have the option of receiving the dividend or reinvesting the same. The dividendwill be reinvested at the Applicable NAV of the immediately following Business Day. In case of investors opting for dividend payout facility, the AMC shall dispatch to theUnit Holders, the dividend warrants within 30 days of the date of declaration of dividend. Under the dividend payout facility, if the amount of dividend payable to the UnitHolder is less than Rs. 500, then the dividend amount will be compulsorily reinvested in the respective Scheme/Plan.

FIDELITY INDIA SPECIAL SITUATIONS FUND (FISSF)

Name of Fund Manager(s) Sandeep Kothari andAnirudh Gopalakrishnan (for investments in Foreign Securities)

Minimum Redemption Size Rs. 1,000 or 100 units. In case of Units held in dematerialised mode, the Unit Holder can give a request for Redemption only in number of Units.

Nitin Bajaj andAnirudh Gopalakrishnan (for investments in Foreign Securities)

To generate long-term capital growth from a diversified portfolio of predominantlyequity and equity related securities including equity derivatives.

Information on Special Situations

The Scheme will primarily be a diversified equity fund which will seek to investin undervalued companies for long term investment with key theme focus being"Special Situations"-these are situations that are out-of-the-ordinary and whichtherefore present interesting stock picking opportunities.

The types of companies that may fall within the scope of Special Situations couldinclude but are not limited to companies with recovery potential, companieswhose growth potential may not be fully recognised by the market, companieswith hidden/undervalued assets whose value may not be fully recognised by themarket, companies with interesting product pipelines which could offer good

earnings potential, companies undertaking corporate restructuring, companieswhich could be potential candidates for mergers and acquisitions related activities.

Performance ofSchemes (as onOctober 29, 2010)

Plans Not Available

Dividend Frequencyand Record Dates

Min. Instalment Amount Min. No. of Instalments Min. Aggregate Investment

Rs. 500 6 Rs. 5,000


Rs. 5,000 Rs. 1,000


Rs. 500 6 Rs. 5,000

Minimum Application Size(Systematic Investmentper Application)

Dividend Frequency Record Date Facilities available

At Trustee's Would be announced Reinvestment andDiscretion in advance Payout



CompoundedAnnualised Returns Fidelity Equity Fund BSE 2001 year 40.64% 29.59%3 years 8.39% 1.38%5 years 25.54% 20.53%Since inception 27.70% 21.85%Date of Allotment May 16, 2005

105%90%75%

60%45%30%15%0%

-15%-30%-45%

FY 05-06* FY 07-08

78.5063.38

17.38 24.13

Fidelity Equity Fund BSE 200

NAVs of Growth Option are usedfor calculation of returns. Returnshave been calculated on the facevalue of Rs. 10/- per unit.

Past Performance may or maynot be sustained in future.

120%100%

80%60%40%20%0%

-20%-40%-60%

FY 06-07*

20.65 21.25

Fidel ity Ind ia Specia l Situations Fund BSE 200

ExpensesExit Load: For redemption within 1 year from the date of allotment or Purchase applying First in First Out basis 1.00%

A switch-out or a withdrawal under SWP may also attract an Exit Load like any Redemption. No Exit Loads/CDSC will be chargeable in case of switches madebetween different options of the Scheme.No Exit loads will be chargeable in case of; (i) Units allotted on account of dividend reinvestments; and (ii) Units issued by way of bonus, if any.In case of units switched out/systematically transferred to another option/Plan within the same Plan/Scheme and if subsequently redeemed, for the purpose ofdetermining the Exit Load, the date when such units were first allotted in the respective Scheme will be considered as the purchase/allotment date.

Load Structure

For Ongoing Offer

15.24 10.20

FY 06-07 FY 07-08

10.7324.13

Absolute Returns Absolute Returns

* from inception (May 16, 2005) to March 31, 2006 * from inception (May 22, 2006) to March 31, 2007

FY 08-09

-32.57-40.98

FY 08-09

-41.10 -40.98

Investment Strategy Please refer to page 11 for details

No. of Folios (Live Accounts)as at October 29, 2010 2,52,629 1,36,986

Assets under Management(AUM) (Rs. in crores)as at October 29, 2010

3,272.92 1,004.56

FY 09-10

89.4892.87 111.90

92.87

FY 09-10

All the above three conditions to be jointly fulfilled

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Investment Objective To generate long-term capital growth from a diversified portfolio of predominantlyequity and equity related securities.

FIDELITY TAX ADVANTAGE FUND (FTAF)FIDELITY INTERNATIONAL OPPORTUNITIES FUND (FIOF)


Types of Instruments Normal Allocation Risk Profile(% of net assets)

Equity and equity related securities* 80 to 100 High


*Includes investments in Offshore securities, ADRs and GDRs not exceeding10% of the net assets of the Scheme subject to SEBI Guidelines.


Minimum Redemption Size Rs. 500 or 50 units. In case of Units held in dematerialised mode, the Unit

Holder can give a request for Redemption only in number of Units.


Dividend Policy

Name of Fund Manager(s) Sandeep Kothari

Expenses

Load Structure

For Ongoing Offer


Plans




Rs. 500 and in multiples of Rs. 500 and in multiples ofRs. 500 thereafter Rs. 500 thereafter


Rs. 500 6 Rs. 3,000




To generate long-term capital appreciation from a diversified portfolio ofpredominantly equity and equity related securities including equity derivatives inthe Indian and international markets.


Equi ty and equity related securit ies^ (including 80 to 100 Med iumIndian and foreign equity securities toas permitted by SEBI/RBI*) High


^ Includes investments in equity derivatives.* Investments in Foreign Securities will not exceed the limit specified by SEBI.Under current regulations, the fund managers will seek to invest more than 65% of net

assets in equity shares of domestic companies and around 30% of its net assets in ForeignSecurities in order to avail of the prevailing tax benefit of long term capital gains. However,investments in Foreign Securities could be lower than 30% of the net assets due to thelimit set on investments in Foreign Securities or could be in excess of 30% of its net assetssubject to the limit specified by SEBI, in case of amendment in the tax laws.

Not Available


Rs. 5,000 Rs. 1,000


Rs. 500 6 Rs. 5,000

Rs. 1,000 or 100 units. In case of Units held in dematerialised mode, the

Unit Holder can give a request for Redemption only in number of Units.

A custom benchmark created using the BSE 200 to the extent of 65% ofportfolio and MSCI AC Asia Pacific ex Japan for balance 35%

The Trustee may decide to distribute by way of dividend, the surplus by way of realised profit, dividends and interest, net of losses, expenses and taxes, if any, to Unit Holders in thedividend option of the Scheme if such surplus is available and adequate for distribution in the opinion of the Trustee. The Trustee's decision with regard to availability and adequacy,rate, timing and frequency of distribution shall be final. The dividend will be due to only those Unit Holders whose names appear in the register of Unit Holders in the dividend optionof the Scheme on the record date which will be fixed by the Trustees and announced in advance. Further, the NAV shall be adjusted to the extent of dividend distribution and statutorylevy, if any, at the close of business hours on record date. Within one day of the decision by the Trustees regarding dividend distribution rate and record date, AMC shall issue noticeto the public communicating the decision including the record date. The record date shall be 5 calendar days from the issue of notice. Such notice shall be given in one English dailynewspaper having nationwide circulation as well as in a newspaper published in the language of the region where the head office of the mutual fund is situated. The Unit Holders willhave the option of receiving the dividend or reinvesting the same. The dividend will be reinvested at the Applicable NAV of the immediately following Business Day. In case of investorsopting for dividend payout facility, the AMC shall dispatch to the Unit Holders, the dividend warrants within 30 days of the date of declaration of dividend. For FIOF under the dividendpayout facility, if the amount of dividend payable to the Unit Holder is less than Rs. 500, then the dividend amount will be compulsorily reinvested in the respective Scheme/Plan.



Sandeep Kothari andAnirudh Gopalakrishnan (for investments in Foreign Securities)

Exit Load: NIL

No Exit Loads/CDSC will be chargeable in case of switches made betweendifferent options of the Scheme.

No Exit loads will be chargeable in case of; (i) Units allotted on account ofdividend reinvestments; and (ii) Units issued by way of bonus, if any. In caseof units switched out/systematically transferred to another option within thesame Scheme and if subsequently redeemed, for the purpose of determiningthe Exit Load, the date when such units were first allotted in the Scheme willbe considered as the purchase/allotment date.

NAVs of Growth Option are usedfor calculation of returns.Returns have been calculatedon the face value of Rs. 10/- perunit.


Compounded Annual ised Returns Fideli ty Tax Advantage Fund BSE 200

1 year 43.02% 29.59%

3 years 9.71% 1.38%


Date of Allotment February 27, 2006

Exit Load: For redemption within 1 year from the date of allotment or Purchase applying First inFirst Out basis: 1.00%A switch-out or a withdrawal under SWP or a transfer under STP may also attract an Exit Loadlike any Redemption. No Exit Loads/CDSC will be chargeable in case of switches made betweendifferent options of the Scheme.No Exit loads will be chargeable in case of; (i) Units allotted on account of dividend reinvestments;and (ii) Units issued by way of bonus, if any. In case of units switched out/systematically transferredto another option within the same Scheme and if subsequently redeemed, for the purpose ofdetermining the Exit Load, the date when such units were first allotted in the Scheme will beconsidered as the purchase/allotment date.

Compounded Annualised Returns Fidelity International Opportunities Fund Benchmark*1 year 32.91% 23.93%3 years 6.73% 0.94%Since inception 10.91% 10.28%Date of Allotment May 28, 2007* FIOF is benchmarked to a custom benchmark created by assigning 65% weight to BSE 200 and

35% weight to MSCI AC Asia Pacific ex Japan

100%

80%

60%

40%

20%

0%

-20%

-40%-30%

-40%

FY 07-08*

90.7680.28

Fidelity International Opportunities Fund Benchmark

Absolute Returns

* from inception (May 28, 2007) to March 31, 2008

100%

80%

60%

40%

20%

0%

-10%

-20%-30%

-40%

-50%

FY 05-06* FY 06-07

Fidelity Tax Advantage Fund BSE 200

Absolute Returns

12.86 10.207.74 9.6119.88

24.13

FY 07-08

* from inception (February 27, 2006) to March 31, 2006

FY 08-09

-36.64 -36.88

-32.02-40.98

FY 08-09


No. of Folios (Live Accounts)as at October 29, 2010 1,14,184 2,91,551


487.74 1,294.87

FY 09-10FY 09-10

90.90 92.87

-0.57

8.30


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Investment Objective To generate long-term capital appreciation from a diversified portfolio ofpredominantly equity and equity related securities including equity derivatives,in the Indian markets. The Scheme could also additionally invest in ForeignSecurities in international markets.



Equity and equity related securities^ (includingIndian and foreign equity securities aspermitted by SEBI/RBI*) 80 to 100 Medium to high

Money market instruments 0 to 20 Low to medium

^ Includes investments in equity derivatives.

* The Scheme may invest in Foreign Securities upto 10% of its net assetssubject to the limit specified by SEBI.

Options Growth and Dividend. The Dividend option offers Dividend Payout and Dividend Reinvestment facilities.



Dividend Policy The Trustee may decide to distribute by way of dividend, the surplus by way of realised profit, dividends and interest, net of losses, expenses and taxes, if any,to Unit Holders in the dividend option of the Scheme if such surplus is available and adequate for distribution in the opinion of the Trustee. The Trustee's decisionwith regard to availability and adequacy, rate, timing and frequency of distribution shall be final. The dividend will be due to only those Unit Holders whose namesappear in the register of Unit Holders in the Dividend option of the Scheme on the record date which will be fixed by the Trustees and announced in advance.Further, the NAV shall be adjusted to the extent of dividend distribution and statutory levy, if any, at the close of business hours on record date. Within one dayof the decision by the Trustees regarding dividend distribution rate and record date, AMC shall issue notice to the public communicating the decision includingthe record date. The record date shall be 5 calendar days from the issue of notice. Such notice shall be given in one English daily newspaper having nationwidecirculation as well as in a newspaper published in the language of the region where the head office of the mutual fund is situated. The Unit Holders will havethe option of receiving the dividend or reinvesting the same. The dividend will be reinvested at the Applicable NAV of the immediately following Business Day.In case of investors opting for dividend payout facility, the AMC shall dispatch to the Unit Holders, the dividend warrants within 30 days of the date of declarationof dividend. Under the dividend payout facility, if the amount of dividend payable to the Unit Holder is less than Rs. 500, then the dividend amount will be compulsorilyreinvested in the respective Scheme/Plan.

Name of Fund Manager(s) Sandeep Kothari andAnirudh Gopalakrishnan (for investments in Foreign Securities)

Minimum Redemption Size Rs. 1000 or 100 units. In case of Units held in dematerialised mode, the Unit Holder can give a request for Redemption only in number of Units.


Plans Not Available


Expenses

Exit Load:

For Redemption Load (% of Applicable NAV)

Within 1 year from the date of allotment or Purchase applying First in First Out basis. 1.00%

A switch-out or a withdrawal under SWP or a transfer under STP may also attract an Exit Load like any Redemption.

No Exit Loads/CDSC will be chargeable in case of switches made between different options of the Scheme.

No Exit loads will be chargeable in case of; (i) Units allotted on account of dividend reinvestments; and (ii) Units issued by way of bonus, if any.

In case of units switched out/systematically transferred to another option within the Scheme and if subsequently redeemed, for the purpose of determining theExit Load, the date when such units were first allotted in the Scheme will be considered as the purchase/allotment date.

Load Structure

For Ongoing Offer

Minimum Application Size(Systematic Investment

per Application)

Min. Investment Amount Min. No. of Instalments Min. Aggregate Investment

Rs. 500 6 Rs. 5,000


Compounded Annualised Returns Fidelity India Growth Fund BSE 2001 year 39.91% 29.59%3 years 9.11% 1.38%

Since inception* 9.46% 4.10%Date of Allotment October 23, 2007NAVs of Growth Option are used for

calculation of returns. Returns havebeen calculated on the face value ofRs. 10/- per unit.

Past Performance may or may notbe sustained in future.

Absolute Returns

FIDELITY INDIA GROWTH FUND (FIGF)

FY 07-08*

Fidel ity Ind ia Growth Fund Benchmark

100%

75%

50%

25%

0%

-25%-50%

-17.53 -14.16

* from inception (October 23, 2007) to March 31, 2008

FY 08-09

-31.95 -40.98

FIDELITY INDIA VALUE FUND (FIVF)To generate long-term capital appreciation from a diversified portfolio ofpredominantly equity and equity related securities, in the Indian markets withhigher focus on undervalued securities. The Scheme could also additionally investin Foreign Securities in international markets.

Types of Instruments Normal Allocation Risk(% of net assets) Profile

Maximum Minimum

Equity and equity related securities^

Indian equity securities 100 80 Medium toHigh

Foreign Securities including overseas ETFs* 10 0

(as permitted by SEBI/RBI)

Debt Securities**, Money market 20 0 Low toinstruments, Cash and domestic ETFs* Medium

^ Includes investments in equity derivatives.

* Investments in ETFs will be within the limits specified under the Regulations from time to time.

** including securitised debt.


Rs. 5,000 per application Rs. 1,000


Rs. 5,000 per application Rs. 1,000

Dividend Frequency Record Date Facilities availableAt Trustee's Discretion Would be announced in advance Reinvestment and Payout

Dividend Frequency Record Date Facilities availableAt Trustee's Discretion Would be announced in advance Reinvestment and Payout

Nitin Bajaj andAnirudh Gopalakrishnan (for investments in Foreign Securities)


No. of Folios (Live Accounts)as at October 29, 2010 70,366 13,852


355.27 201.99

91.25 92.87

FY 09-10

25%

20%

15%

10%

5%

0%

24.03

14.86

FY 09-10*

Absolute Returns Fidelity India Value Fund BSE 200


Date of Allotment January 8, 2010

Fide lity Ind ia Va lue Fund Benchmark

*as the scheme has not completed one financial year, since inceptionreturns have been provided

Absolute Returns

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Investment Objective

FIDELITY FLEXI BOND FUND (FFBF)



Minimum RedemptionSize

Benchmark Index

Dividend Policy The Trustee may decide to distribute by way of dividend, the surplus by way of realised profit, dividends and interest, net of losses, expenses and taxes, if any, to Unit Holders in the dividend optionof the Scheme/Plans if such surplus is available and adequate for distribution in the opinion of the Trustee.The Trustee's decision with regard to availability and adequacy and rate of distribution shall be final. The dividend will be due to only those Unit Holders whose names appear in the register of UnitHolders in the Dividend option of the Scheme on the day(s) mentioned under the head "Dividend Frequency and Record Dates" below or the next Business Day, as applicable. Under the monthlydividend declaration frequency in FFBF and FCF, the Unit Holders have the option of receiving the dividend or reinvesting the same while under the daily and weekly dividend declaration frequenciesin FCF, the dividend will be compulsorily reinvested in. In case of FCF, the dividend will be reinvested at the ex-dividend NAV announced immediately after the record date. In case of FFBF, the dividendwill be reinvested at the applicable NAV of the immediately following Business Day.In respect of Unit holders opting for monthly dividend payout facility, the AMC shall despatch, dividend warrants within 30 days of the date of declaration of dividend.Under the dividend payout facility, if the amount of dividend payable to the Unit Holder is less than Rs. 100, then the dividend amount will be compulsorily reinvested in the respective Scheme/Plan

Name of Fund Manager(s)

To generate reasonable returns through a diversified portfolio of fixed incomesecurities.


Debt Inst ruments including securit ized debt 0 to 100 Medium to Low

Money market instruments 0 to 100 Medium to Low

The Scheme may, subject to applicable regulations from time to time, invest inoffshore securities up to 25% of net assets of the Scheme.

CRISIL Composite Bond Fund Index

Shriram Ramanathan and Vikram Chopra (Assistant Fund Manager)


Plans Institutional Plan and Retail Plan



Plan Initial Investment Additional Investment

Institutional Rs. 1,00,00,000 Rs. 1,00,000

Retail Rs. 5,000 Rs. 1,000

Plan Min. Instalment Min. No. of Min. AggregateAmount Instalments Investment

Institutional Not Available

Retail Rs. 500 6 Rs. 5,000




Monthly 25th of every month Reinvestment and Payout

(Applicable for both Institutional and Retail Plans under the Scheme.) If, 25th of a month

happens to be a non-Business Day, the immediately next Business Day would be the

Record Date.

FIDELITY CASH FUND (FCF)To deliver reasonable returns with lower volatility and higher liquidity through aportfolio of debt and money market instruments.


Debt Inst ruments including securit ized debt 0 to 100 Medium to Low

Money market instruments 0 to 100 Medium to Low

The Scheme may, subject to applicable regulations from time to time, invest inoffshore securities up to 25% of net assets of the Scheme.

Plan Minimum Redemption Size

Super Institutional Plan Rs. 1,00,000 or 10,000 units

Institutional Plan Rs. 1,00,000 or 10,000 units

Retail Plan Rs. 1,000 or 100 units

Super Institutional Plan, Institutional Plan and Retail Plan

Plan Initial Investment Additional Investment(in multiples of Re. 1 thereafter).

Super Institutional Rs. 10,00,00,000 Rs. 1,00,000


Retail Rs. 5,000 Rs. 1,000


Super Institutional Not Available


Retail Rs. 500 6 Rs. 5,000All the above three conditions to be jointly fulfilled


Daily Every Day* Reinvestment only

Weekly Every Monday** Reinvestment only

Mon th ly 25th of each calendar month*** Reinvestment and Payout

(Applicable for Super Institutional, Institutional and Retail Plans under the Scheme.)* All days for which NAV is published on www.amfiindia.com/www.fidelity.co.in websites** If a particular Monday of a week happens to be a non-Business Day, the immediately next

Business Day would be the Record Date.*** If, 25th of a month happens to be a non-Business Day, the immediately next Business Day

would be the Record Date.

CRISIL Liquid Fund Index



Compounded Fidelity Flexi Bond Fund - CRISIL Composite Fidelity Flexi Bond Fund - CRISIL CompositeAnnualised Returns Retail Bond Fund Index Institutional* Bond Fund Index

1 year 2.00% 5.32% NA NA

3 years 5.36% 6.02% NA NA

Since inception 5.80% 5.39% -0.10% 0.22%

Date of Allotment August 30, 2006 May 12, 2010

C om po un ded F idel ity Cash Fu nd - F id el it y Cash Fu nd - Fi deli ty C ash Fun d- C RI SI L L iqu idAnnualised Retail Institutional Super Institutional Fund IndexReturns

1 year 4.07% 4.49% 4.65% 4.34%

Since inception 6.22% 6.64% 6.78% 6.43%

Date of Allotment Nov. 27, 2006

Expenses

Load Structure

For Ongoing Offer

Exit Load:Load (% of Applicable NAV)

For Redemption:Within 6 months from the date of allotmentor purchase applying First in First out basis 0.50%

Fidelity Cash Fund (Super Institutional) Fidelity Cash Fund (Institutional)

Fidelity Cash Fund (Retail) CRISIL Liquid Fund Index

10%8%6%4%2%0%

FY 07-08

No Exit Loads/CDSC will be chargeable in case of switches made between different plans/options of theScheme. No Exit Load will be chargeable in case of switches made between FFBF and FFGF.No Exit loads will be chargeable in case of; (i) Units allotted on account of dividend reinvestments; and(ii) Units issued by way of bonus, if any.In case of units switched out/systematically transferred to another option/Plan within the same Plan/Schemeand if subsequently redeemed, for the purpose of determining the Exit Load, the date when such units w erefirst allotted in the respective Plan/Scheme will be considered as the purchase/allotment date.

FY 06-07*

2.732.262.68

2.54

Fide lity F lexi Bond Fund (Re ta il) CRISIL Compos ite Bond Fund IndexFidelity Flexi Bond Fund (Institutional)

12.0%9.0%6.0%3.0%

0%

8.90 8.848.68

FY 07-08

2.10 2.541.98

FY 06-07*

Absolute ReturnsAbsolute Returns




* from inception (August 30, 2006) to March 31, 2007** There were no investors in FFBF - Institutional Plan - Growth option as on March 31, 2009 * from inception (November 27, 2006) to March 31, 2007

Exit Load: NIL

In case of units switched out/systematically transferred to another option/Planwithin the same Plan/Scheme and if subsequently redeemed, for the purposeof determining the Exit Load, the date when such units were first allotted in therespective Plan/Scheme will be considered as the purchase/allotment date.

* There were no investors in FFBF - Institutional Plan - Growth option as on 31st August 2009

7.359.63

FY 08-09**

FY 08-09

Shriram Ramanathan and Mahesh A. Chhabria (Assistant Fund Manager)

Investment Strategy Please refer to page 11-12 for details

No. of Folios (Live Accounts)as at October 29, 2010 1,461 3,260


74.73 385.83

5.413.22

FY 09-10

8.55 8.818.458.028.10

7.547.977.55

FY 09-10

4.08 3.933.51 3.69

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Options

Benchmark Index

Dividend Policy

Name of Fund Manager(s)

Minimum Redemption Size

Performance of Schemes(as on October 29, 2010)

Plans




FIDELITY FLEXI GILT FUND (FFGF)

Expenses

Load Structure

For Ongoing Offer



FIDELITY ULTRA SHORT TERM DEBT FUND (FUSTDF)


Super Institutional Plan Rs. 1,00,000 or 10,000 units



To generate reasonable returns and liquidity primarily through investment in money marketand short term debt instruments. Please note that the Scheme is not a "liquid scheme"as defined under SEBI Regulations.


Money Market and Debt instruments with average maturity of 65-100 Lownot greater than 1 year. (Debt instruments may include securitized debt)*

Debt Instruments with average maturity more than 1 year. 0-35 Medium(Debt instruments may include securitized debt)* to Low

* The Scheme may invest in securitized debt up to 100% of its net assets.The Scheme may, subject to applicable regulations from time to time, invest in offshore securities up to 25%of net assets of the Scheme.

Super Institutional Plan, Institutional Plan and Retail PlanEach of the plans under the Scheme offers Growth option and Dividend option.

The Dividend option offers Dividend Payout and Dividend Reinvestment facilities.

CRISIL Liquid Fund Index

The Trustee may decide to distribute by way of dividend, the surplus by way of realised profit, dividends and interest, net of losses,expenses and taxes, if any, to Unit Holders in the dividend option of the Scheme/Plan if such surplus is available and adequatefor distribution in the opinion of the Trustee.The Trustee's decision with regard to availability and adequacy and rate of distributionshall be final. The dividend will be due to only those Unit Holders whose names appear in the register of Unit Holders in the Dividendoption of the Scheme on the day(s) mentioned under the head "Dividend Frequency and Record Dates" below or the next BusinessDay, as applicable.Under the monthly dividend declaration frequency, the Unit Holders have the option of receiving the dividend or reinvesting the samewhile under the daily and weekly divdend declaration frequencies, the dividend will be compulsorily reinvested. The dividend willbe reinvested at the applicable NAV of the immediately following Business Day.Under the dividend payout facility, if the amount of dividend payable to the Unit Holder is less than Rs. 100, then the dividend amountwill be compulsorily reinvested in the Scheme/Plan


Daily Every Day* Reinvestment only

Weekly Every Monday** Reinvestment and Payout

Monthl y 25th of each calendar month*** Reinvestment and Payout

Applicable for Super Institutional and Institutional Plans Applicable for Super-Institutional, Institutional and Retail Plans* All days for which NAV is published on www.amfiindia.com/www.fidelity.co.in websites** If a particular Monday of a week happens to be a non-Business Day, the immediately next Business Day would be the Record Date.*** If 25th of a month happens to be a non-Business Day, the immediately next Business Day would be the Record Date.

Plan Initial Investment Additional Investment (in multiples of Re. 1 thereafter)

Super Institutional Rs. 10,00,00,000 Rs. 1,00,000


Retail Rs. 5,000 Rs. 1,000

Shriram Ramanathan and Mahesh A. Chhabria (Assistant Fund Manager)

Exit Load:


Within 5 calendar days from the date of allotment or Purchaseapplying First in First Out basis. 0.10

A switch-out or a withdrawal under SWP or transfer under STP may also attract an Exit Load like any Redemption.No Exit Loads/CDSC will be chargeable in case of switches made between different plans/options of the SchemeNo Exit loads will be chargeable in case of; (i) Units allotted on account of dividend reinvestments; and (ii) Units issued by wayof bonus, if any. In case of units switched out/systematically transferred to another option/Plan within the same Plan/Scheme andif subsequently redeemed, for the purpose of determining the Exit Load, the date when such units were first allotted in the respectivePlan/Scheme will be considered as the purchase/allotment date.

C om po un de d F id el it y U lt ra Sh or t Te rm F id el it y U lt ra Sh or t T er m F id el it y U lt ra Sh or t T er m C RI SI L L iq ui d C RI SI L L iq ui dAnn ua li se d Re tu rn s Deb t Fu nd -Retai l Deb t Fu nd -I ns ti tu ti on al * Deb t Fu nd -Sup er I ns ti tu ti on al F un d I nd ex ( IP ) F un d I nd ex (RP & S IP )

1 year 4.57% 4.99% 5.15% 4.34% 4.34%

Since inception 6.31% 6.52% 6.87% 6.06% 6.11%

Date of Allotment Retail - September 20, 2007, Institutional - February 18, 2008

* The first investment in Institutional plan was done on Feb. 18, 2008 and therefore this date is deemed to be allotment date for Institutional plan.


Super Institutional Not Available


Retail Rs. 500 6 Rs. 5,000


Shriram Ramanathan and Vikram Chopra (Assistant Fund Manager)

I-Sec Composite Gilt Index

The Trustee may decide to distribute by way of dividend, the surplus by way of realised profit, dividends and interest, net of losses,expenses and taxes, if any, to Unit Holders in the dividend option of the Scheme if such surplus is available and adequate for distributionin the opinion of the Trustee. The Trustee's decision with regard to availability and adequacy, rate, timing and frequency of distributionshall be final. The dividend will be due to only those Unit Holders whose names appear in the register of Unit Holders in the dividendoption of the Scheme on the record date fixed by the Trustees and will be announced in advance. Further, the NAV shall be adjustedto the extent of dividend distribution and statutory levy, if any, at the close of business hours on record date. Within one day of thedecision by the Trustees regarding dividend distribution rate and record date, AMC shall issue notice to the public communicatingthe decision including the record date. The record date shall be 5 calendar days from the issue of notice. Such notice shall be givenin one English daily newspaper having nationwide circulation as well as in a newspaper published in the language of the region wherethe head office of the mutual fund is situated. The Unit Holders will have the option of receiving the dividend or reinvesting the same.The dividend will be reinvested at the Applicable NAV of the immediately following Business Day. In case of investors opting for dividendpayout facility, the AMC shall dispatch to the Unit Holders, the dividend warrants within 30 days of the date of declaration of dividend.

Under the dividend payout facility, if the amount of dividend payable to the Unit Holder is less than Rs. 100, then the dividend amountwill be compulsorily reinvested in the Scheme/Plan

To generate sovereign linked returns primarily through investments in sovereign securitiesissued by the Central Government and/or a State Government or repos/reverse repos insuch securities or any security unconditionally guaranteed by the Central/State Government.

Growth option and the Dividend option. The Dividend option offers DividendPayout and Dividend Reinvestment facilities

Rs. 1,000 or 100 units

Not Available


Quarterly, subject to Would be announced Reinvestment and

Trustee's approval in advance Payout

Exit Load: NILIn case of units switched out/systematically transferred to another option/Plan within the same Plan/Scheme and if subsequentlyredeemed, for the purpose of determining the Exit Load, the date when such units were first allotted in the respective Plan/Schemewill be considered as the purchase/allotment date.

CompoundedAnnualised Returns Fidelity Flexi Gilt Fund I-Sec Composite Gilt Index

1 year 0.78% 5.62%


Date of Allotment August 7, 2008


Rs. 5,000 Rs. 1,000

Min. Instalment Min. No. of Min. AggregateAmount Instalments Investment

Rs. 500 6 Rs. 5,000



Securities, issued by Central Government/ up to 100% Low toState Government(s) including reverse repo in Mediumsuch securities as may be permitted by SEBI/RBIfrom time to time and money market instruments

The Scheme may, subject to applicable regulations from time to time, invest in offshore securities upto 25% of net assets of the Scheme.


FY 08-09~

13.78

16.0920.0%

16.0%

12.0%

6.0%4.0%

0%

Fidelity Flexi Gilt Fund I-Sec Composite Gilt Index

~ from inception (August 7, 2008) to March 31, 2009

Absolute Returns

FY 09-10

2.504.42

FY 08-09

8.278.83 8.70 8.819.0%

8.0%6.0%4.0%

2.0%0%

Fidelity Ultra Short Term Debt Fund (Retail)

Fidelity Ultra Short Term Debt Fund (Institutional) CRISIL Liquid Fund Index

Fidelity Ultra Short Term Debt Fund (Super Institutional)

~ from inception (Sep. 20, 2007) to March 31, 2008. [For Institutional Plan the period is fromFebruary 18, 2008 (allotment date) to March 31, 2008]

Absolute Returns

FY 07-08~

4.01 3.584.28

0.91 0.94

FY 09-10

4.42 5.00 4.843.69

No. of Folios (Live Accounts)as at October 29, 2010

2,935 564


447.44 41.99

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FIDELITY WEALTH BUILDER FUND (FWBF)The investment objectives of each Plan under the Scheme are as follows:

Plan A: To seek to generate reasonable returns by investing predominantly in the Debt Scheme(s) and around 15% of the net assets of the Plan in the Equity Scheme(s).

Plan B: To seek to generate reasonable returns by investing predominantly in the Debt Scheme(s) and around 30% of the net assets of the Plan in the Equity Scheme(s).

Plan C: To seek to generate reasonable returns by investing at least 50 % of the net assets of the Plan in the Debt Scheme(s) balanced with generation of long-termcapital growth by investing around 50 % of the net assets of the Plan in the Equity Scheme(s).

Options

Benchmark Index

Dividend Policy

Name of Fund Manager(s) Shriram Ramanathan and Vikram Chopra (Assistant Fund Manager)

The benchmark details against which the performance of each Plan will be measured are as below:Plan A: 85%-CRISIL Composite Bond Fund Index and 15%-BSE 200 Index

Plan B: 70%-CRISIL Composite Bond Fund Index and 30%-BSE 200 Index

Plan C: 50%-CRISIL Composite Bond Fund Index and 50%-BSE 200 Index

The Trustee may decide to distribute by way of dividend, the surplus by way of realised profit, dividends and interest, net of losses, expenses and taxes, if any, to Unit Holders in the dividend option of a Plan if suchsurplus is available and adequate for distr ibution in the opinion of the Trustee. The frequency of declaration of dividend under the Plans will be as mentioned below under the head 'Dividend Frequency and RecordDates'.

The record date(s) for declaration of dividend shall be fixed by the Trustees and announced in advance. Within one day of the decision by the Trustees regarding dividend distribution, rate and record date, AMCshall issue notice to the public communicating the decision including the record date. The record date shall be 5 calendar days from the issue of notice. Such notice shall be given in one English daily newspaperhaving nationwide circulation as well as in a newspaper published in the language of the region where the head office of the mutual fund is situated. The NAV shall be adjusted to the extent of dividend distributionand statutory levy, if any, at the close of business hours on record date.

The Trustee's decision with regard to availability and adequacy and rate of distribution shall be final. The dividend will be due to only those Unit Holders whose names appear in the register of Unit Holders in theDividend option of the Plans on the record dates which will be fixed by the Trustees and announced in advance. In respect of Unit Holders opting for dividend reinvestment facility, the dividend will be re-investedat the ex-dividend NAV announced immediately after the record date. No Exit load will be charged on account of Units allotted by way of dividend reinvestments.

In respect of Unit holders opting for the dividend payout facility, the AMC shall despatch, the dividend warrants within 30 days of the date of declaration of dividend.

For Plan A and Plan B, under the dividend payout facility, if the amount of dividend payable to the Unit Holder is less than Rs. 100, then the dividend amount will be compulsorily reinvested in the Scheme/Plan.For Plan C, under the dividend payout facility, if the amount of dividend payable to the Unit Holder is less than Rs. 500, then the dividend amount will be compulsorily reinvested in the respective Scheme/Plan.


Each of the Plans under the Scheme offer two options - Growth Option and Dividend Option. The Dividend Option offers Dividend Payout and Dividend Reinvestment facilities.

Rs. 1,000 or 100 units in respect of each plan. In case of Units held in dematerialised mode,the Unit Holder can give a request for Redemption only in number of Units.

Performance of Schemes(as on October 29, 2010)

Plans Plan A, Plan B and Plan C




Plan A & B: Quarterly, subject to Trustee's approval Would be announced in advance Reinvestment and PayoutPlan C: At the discretion of the Trustees

Expenses

Load Structure

For Ongoing Offer

Exit Load:


Within 1 year from the date of allotment or purchase applying First in First Out basis 1.00%

A switch-out or a withdrawal under SWP or transfer under STP may also attract an Exit Load like any Redemption.

No Exit Loads/CDSC will be chargeable in case of: (i) switches made between different options of the same Plan or between different Plans within the Scheme; (ii) Unitsallotted on account of dividend reinvestments; and (iii) Units issued by way of bonus, if any.


Rs. 5,000 per plan Rs. 1,000 per plan



Rs. 500 6 Rs. 5,000


Plan A


Max imum Minimum

Debt Schemes 100% 70% Medium to Low

Equity Schemes 30% 0% Medium to High

Money market instruments 30% 0% Low to Medium

Plan B

Types of Instruments Normal Allocation Risk(% of net assets) P rofile

Maximum Minimum



Money market instruments 30% 0 % Low to Medium

Plan C


Maximum Minimum



Money market instruments 40% 0% Low to Medium

Compounded Wealth Builder Benchmark- Wealth Builder Benchmark- Wealth Builder Benchmark-Annualised Plan A 85%-CRISIL Composite Bond Plan B 70%-CRISIL Composite Bond Plan C 50%-CRISIL Composite BondReturns Fund Index and Fund Index and Fund Index and

15%-BSE 200 Index 30%-BSE 200 Index 50%-BSE 200 Index

1 year 5.87% 8.83% 10.44% 12.39% 17.42% 17.21%

Since inception 9.59% 13.28% 17.55% 22.18% 28.87% 34.84%



CAGR has not been calculatedas FWBF has not completed oneyear from date of allotment.


Wealth Builder - Plan A

85%-CRISIL Composite Bond Fund Index and 15%-BSE 200 Index

~ from inception (February 24, 2009) to March 31, 2009

Absolute Returns

FY 08-09~

0.60 1.50

18.0%

15.0%

12.0%

9.0%

6.0%

3.0%

0%

Wealth Builder - Plan B

70%-CRISIL Composite Bond Index and30%-BSE 200 Index


Absolute Returns

FY 08-09~

1.882.99

28.0%24.0%20.0%

16.0%12.0%8.0%4.0%

0%

Wealth Builder - Plan C

50%-CRISIL Composite Bond Fund Indexand 50%-BSE 200 Index


Absolute Returns

FY 08-09~

4.28 4.97

50.0%

40.0%

30.0%20.0%

10.0%

0%


No. of Folios (Live Accounts)as at October 29, 2010 5,153


140.06

FY 09-10

12.06

16.0321.16

27.46

FY 09-10 FY 09-10

32.95

44.06

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FIDELITY GLOBAL REAL ASSETS FUND (FGRAF)To aim to achieve long-term capital growth from a portfolio which will be primarily invested in Fidelity Funds - Global Real Asset Securities Fund, an offshore fundlaunched by Fidelity Funds (an open-ended investment company incorporated in Luxembourg) and similar to an Indian mutual fund scheme.

Options

Benchmark Index

Dividend Policy

Name of Fund Manager Anirudh Gopalakrishnan

A custom benchmark which is a blend of the following indices - MSCI ACWI Industrials, MSCI ACWI Real Estate, MSCI ACWI Utilities, MSCI Materials and MSCIEnergy. The weights assigned to each individual index while calculating the custom benchmark is 20%, 20%, 10%, 20% and 30% respectively.

The Trustee may decide to distribute by way of dividend, the surplus by way of realised profit, dividends and interest, net of losses, expenses and taxes, if any,

to Unit Holders in the dividend option of the Scheme if such surplus is available and adequate for distribution in the opinion of the Trustee. The Trustee's decision

with regard to availability and adequacy, rate, timing and frequency of distribution shall be final. The dividend will be due to only those Unit Holders whose names

appear in the register of Unit Holders in the Dividend option of the Scheme on the record date which will be fixed by the Trustees and announced in advance.

Further, the NAV shall be adjusted to the extent of dividend distribution and statutory levy, if any, at the close of business hours on record date. Within one day

of the decision by the Trustees regarding dividend distribution rate and record date, AMC shall issue notice to the public communicating the decision including

the record date. The record date shall be 5 calendar days from the issue of notice. Such notice shall be given in one English daily newspaper having nationwide

circulation as well as in a newspaper published in the language of the region where the head office of the mutual fund is situated.

The Unit Holders will have the option of receiving the dividend or reinvesting the same. In case of investors opting for dividend payout facility, the AMC shall

dispatch to the Unit Holders, the dividend warrants within 30 days of the date of declaration of dividend.

The dividend will be reinvested at the Applicable NAV of the immediately following Business Day. Under the dividend payout facility, if the amount of dividend

payable to the Unit Holder is less than Rs. 500, then the dividend amount will be compulsorily reinvested in the respective Scheme/Plan.


Growth Option and Dividend Option. The Dividend Option offers dividend payout and dividend reinvestment facilities.

Rs. 1,000 or 100 units in respect of each plan. In case of Units held in dematerialised mode, the Unit Holder can give a request for Redemption only innumber of Units and the provisions pertaining to minimum balance amount/number of Units will not be applicable.

Performance of Schemes(as on March 31, 2010)

Plans Not Available




At Trustee's Discretion Would be announced in advance Reinvestment and Payout

Expenses

Load Structure

For Ongoing Offer

Exit Load:


Within 1 year from the date of allotment or purchase applying First in First Out basis 1.00%

A switch-out or a withdrawal under SWP or transfer under STP may also attract an Exit Load like any Redemption.

No Exit Loads/CDSC will be chargeable in case of switches made between different options of the Scheme.

No Exit Load will be chargeable in case of redemption of; (i) units allotted on account of dividend reinvestments; and (ii) units issued by way of bonus, if any.In case of units switched out/systematically transferred to another option/Plan within the same Plan/Scheme and if subsequently redeemed, for the purpose ofdetermining the Exit Load, the date when such units were first allotted in the respective Plan/Scheme will be considered as the purchase/allotment date.


Rs. 5,000 per plan Rs. 1,000 per plan


Min. Instalment Min. No. of Min. AggregateAmount Instalments Investment

Rs. 500 6 Rs. 5,000



CAGR has not been calculatedas FGRAF has not completed oneyear from date of allotment.


The Scheme shall invest in Fidelity Funds - Global Real Asset Securities Fund, an offshore fund launched by Fidelity Funds (an open-ended investment companyincorporated in Luxembourg) and similar to an Indian mutual fund scheme. The investment objective of the Underlying Scheme is to achieve long-term capital growthfrom a portfolio primarily invested in equity securities of companies across the world that provide exposure to commodities, property, industrials, utilities, energy,materials and infrastructure. Up to 20% of the portfolio can consist of investments in Exchange Traded Funds, Exchange Traded Commodities qualifying as transferablesecurities, bonds, warrants and convertibles.

Types of Instruments Normal Allocation (% of net assets) Risk Profile

Maximum Minimum

Shares/units of the Underlying Scheme*/Foreign Securities 100 80 High

Money Market Instruments and/or liquid/cash 20 0 Low to Mediumschemes of mutual funds registered with SEBI

* The Underlying Scheme may have equity exposure through investments in shares, depositary receipts, investment trusts, stapled securities, warrants and otherparticipation rights. Subject to the foregoing, the Underlying Scheme may have equity exposure, to a limited extent, through investment in convertible securities, indexand participation notes and equity linked notes. The Underlying Scheme may also invest in Exchange Traded Funds subject to the maximum limit specified underthe Regulations from time to time.

The Scheme shall invest at least 65% of its net assets in shares/units of the Underlying Scheme.


No. of Folios (Live Accounts)

as at October 29, 2010 3,857


86.09

Absolute Returns Fidelity Global Real Assets Fund BSE 200



Fidelity Global Real Assets Fund Benchmark

*as the scheme has not completed one financial year,since inception returns have been provided

Absolute Returns

20%

16%

12%

8%

4%

0%

15.17

10.25

FY 09-10*

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INFORMATION COMMON TO ALL SCHEMES

Applicable NAV forFidelity Equity Fund,Fidelity India SpecialSituations Fund, FidelityTax Advantage Fund,Fidelity InternationalOpportunities Fund,Fidelity Flexi Bond Fund,Fidelity India Growth

Fund, Fidelity India ValueFund, Fidelity Ultra ShortTerm Debt Fund, FidelityFlexi Gilt Fund, FidelityWealth Builder Fund andFidelity Global RealAssets Fund

The Cut-off time and the Applicable NAV will be as under:

For Purchases/Redemptions: (1) In respect of valid Purchase (along with cheques/drafts/other payment instruments)/Redemption applications

accepted at a Designated Collection Centre up to 3 p.m. on a Business Day, the NAV of such day will be applicable. (2) In respect of valid Purchase

(along with cheques/drafts/other payment instruments)/Redemption applications accepted at a Designated Collection Centre after 3 p.m.on a

Business Day, the NAV of the next Business Day will be applicable.

The above will be applicable only for cheques/drafts/payment instruments payable locally in the city in which ISC is located. No outstation cheques

will be accepted.

Further an Application Form accompanied by a payment instrument issued from a bank account other than that of the applicant/investor will not

be accepted except in certain circumstances. Please refer paragraph How to Pay in SAI for further details.For applications for Purchases along with demand draft not payable at par at the place where the application is received, NAV of the day on which

the demand draft is credited will be applicable

In respect of valid applications for purchase of units under Fidelity Flexi Bond Fund or Fidelity Ultra Short Term Debt Fund or Fidelity Flexi Gilt

Fund or under Plan A and Plan B of Fidelity Wealth Builder Fund, accepted at the Designated Collection Centre for an investment amount equal

to or more than Rs. 1 crore, irrespective of the time of receipt of application, the NAV of the Business Day on which the funds are available for

utilization in the respective schemes/plans shall be applicable.

For Switches: Valid applications for switch-out shall be treated as applications for Redemption and valid applications for switch-in shall be treated

as applications for Purchase, and the provisions for the Cut-off time and the Applicable NAV as applicable to Purchase and Redemption shall be

applied respectively to the switch-in and switch-out applications.

Please note that in respect of Fidelity Tax Advantage Fund, redemption of units can be made only after three years of lock-in period

from the date of allotment of units proposed to be redeemed.

Actual RecurringExpenses(% p.a. of Averagedaily net assets)for the Financial Year2009-10

Fidelity Equity Fund Fidelity India Special Situations Fund Fidelity Tax Advantage Fund

1.86% 2.03% 2.04%

Fidelity International Opportunities Fund Fidelity India Growth Fund Fidelity India Value Fund

2.15% 2.24% 2.38%

Fidelity Flexi Bond Fund Fidelity Cash Fund Fidelity Ultra Short Term Debt Fund

Retail: 1.75% Retail: 0.80% Retail: 0.90%,

Institutional: 0.40% Institutional: 0.50%,Super Institutional: 0.25% Super Institutional: 0.35%

Fidelity Flexi Gilt Fund Fidelity Wealth Builder Fund Fidelity Global Real Assets Fund

1.10% Plan A: 0.50 0.75%Plan B: 0.50

Plan C: 0.50

Name of Trustee Company FIL Trustee Company Private Limited

Dispatch of Repurchase(Redemption) Request

Within 10 Business Days of the receipt of the redemption request at the authorised centre of Fidelity Mutual Fund. Please note that in respect of FidelityTax Advantage Fund redemption of units can be made only after three years of lock-in period from the date of allotment of units proposed to be

redeemed.

Applicable NAV forFidelity Cash Fund

The Cut-off time and the Applicable NAV will be as under:

For Purchase: (1) In respect of valid Purchase applications accepted at a Designated Collection Centre upto 12.00 noon on a Business Day

and if the funds are available for utilization by the Scheme on the same day, the closing NAV of the day immediately preceding the day ofacceptance of application will be applicable. (2) In respect of valid Purchase applications accepted at a Designated Collection Centre after 12.00

noon on a Business Day and if the funds are available for utilization by the Scheme on the same day, the closing NAV of the day immediately

preceding the next business day will be applicable. (3) In respect of valid Purchase applications accepted at a Designated Collection Centre

on a Business Day, irrespective of the time of acceptance of applications, where the funds are not available for utilization on the day of the

application, the closing NAV of the day immediately preceding the day on which the funds are available for utilization by the Scheme will be

applicable. No outstation cheques will be accepted.

Further an Application Form accompanied by a payment instrument issued from a bank account other than that of the applicant/investor will not

be accepted except in certain circumstances. Please refer paragraph How to Pay in SAI for further details.

For Redemption: (1) In respect of valid Redemption applications accepted at a Designated Collection Centre upto 3.00 p.m., the closing NAV

of the day immediately preceding the next business day will be applicable. (2) In respect of valid Redemption applications accepted at a Designated

Collection Centre after 3.00 p.m., the closing NAV of the next business day will be applicable.

For Switches: Valid applications for 'switch-out' shall be treated as applications for Redemption and valid applications for 'switch-in' shall be

treated as applications for Purchase, and the provisions of the Cut-off time and the Applicable NAV as applicable to Purchase and Redemption

shall be applied respectively to the 'switch-in' and 'switch-out' applications.

Daily Net Asset Value(NAV) Publication

The NAVs of all schemes except Fidelity Cash Fund will be declared on all business days and will be published in 2 newspapers. In case of Fidelity

Cash Fund, the NAV will be calculated on all calendar days and will be published on all Business Days in 2 newspapers. The NAVs of all

the schemes can also be viewed on www.fidelity.co.in and www.amfiindia.com. Alternatively, investors can call up our Investorline on

1800 2000 400 (toll-free) or 0124 3915655 (at long distance rates) to access the NAV.

For InvestorGrievances pleasecontact

Mr. Vikram Soni

FIL Fund Management Private Limited

3rd Floor, Investwell Centre, 91, G.N. Chetty Road,

T. Nagar, Chennai - 600 017.Tel: 1800 2000 400 Fax: +91-44-66187928 E-mail: [email protected]

Computer Age Management Services Private Limited

Ground Floor, Rayala Towers,158, Anna Salai, Chennai-600 002.

Tax Treatment for theInvestors (Unit holders)

Investor are advised to refer to the details in the Statement of Additional Information and also independently refer to their tax adviser.

For any grievances with respect to transactions through BSEand/or NSE, the investors/Unit Holders should approach either

the stock broker or the investor grievance cell of the respective

stock exchange.

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INFORMATION COMMON TO ALL SCHEMES

Unit Holders'Information

An Account Statement will be sent by ordinary post/courier/secured encrypted electronic mail to each Unit Holder, stating the number of Unitspurchased, not later than 30 days from the date of acceptance of a valid transaction.

Account Statements for transactions under SIP/SWP/STP will be despatched once every quarter ending March, June, September and Decemberwithin 10 working days of the end of the respective quarter. A soft copy of the account statement shall be mailed to the Unit Holders under SIP/SWP/STP to the e-mail address provided by the Unit Holder on a monthly basis, if so mandated. The first account statement under SIP/SWP/STPshall be issued within 10 working days of the initial investment/withdrawal/transfer. In case of specific request received from investors, the AMC willprovide the account statement to the investors within 5 working days from the receipt of such request without any charges.

The Mutual Fund will provide the account statement to the Unit Holders who have not transacted during the last six months prior to the date ofgeneration of account statements. The account statement shall reflect the latest closing balance and value of the Units prior to the date of generationof the account statement. The account statements in such cases may be generated and issued along with the Portfolio Statement or Annual Reportof the Scheme. Alternately, soft copy of the account statements shall be mailed to the investors e-mail address, instead of physical statement, ifso mandated.

An Annual Report of the Scheme will be prepared as at the end of each financial year (March 31) and copies of the report or an abridged summarythereof will be mailed to all Unit Holders as soon as possible but not later than 4 months from the closure of the relevant Financial Year. Full portfoliodetails, in the prescribed format, shall also be disclosed either by publishing it in the newspapers or by sending to the Unit Holders within one monthfrom the end of each half-year and it shall also be displayed on the website of the Fund. However, in case of Unit Holders holding units in thedematerialised mode, the Fund will not send the account statement to the Unit Holders. The statement provided by the Depository Participant willbe equivalent to the account statement.

RIsk Profile of theSchemes

Mutual Fund Units involve investment risks including the possible loss of principal. Please read the Scheme Information Document carefully for detailson risk factors before investment. Scheme specific risk factors are summarized below:

As per SEBI circular no. SEBI/IMD/CIR No.10/22701/03 dated December 12, 2003, each scheme (including the plans thereunder) should have aminimum of 20 Unit Holders and no single Unit Holder should account for more than 25% of the corpus of such scheme. The aforesaid conditions

should be met in each calendar quarter on an average basis. In case of non-fulfilment with the first condition i.e. minimum of 20 investors in theScheme, for each calendar quarter as specified by SEBI, the Scheme shall be wound up by following the guidelines prescribed by SEBI and Unit

Holders' investment in such Scheme would be redeemed at the Applicable NAV. SEBI has further prescribed that if any investor breaches the 25%limit over a quarter, a rebalancing period of one month will be allowed to the investor and thereafter the investor who is in breach of the limit shall

be given 15 days notice to redeem his exposure over the 25% limit. In the event of failure on part of the said investor to redeem the excess exposure,the excess holding will be automatically redeemed by the Fund following the guidelines prescribed by SEBI.

Risk Factors pertaining to Equity SchemesEquity and equity related securities are volatile and prone to price fluctuations on a daily basis. The liquidity of investments made in the Equity Schemesmay be restricted by trading volumes and settlement periods. Settlement periods may be extended significantly by unforeseen circumstances. The

inability of the Equity Schemes to make intended securities purchases, due to settlement problems, could cause the Equity Schemes to miss certaininvestment opportunities.Similarly, the inability to sell securities held in the Equity Schemes' portfolios would result at times, in potential losses to

the respective Equity Schemes, should there be a subsequent decline in the value of securities held in such Equity Schemes' portfolios.

Investments in equity and equity related securities involve a degree of risks and investors should not invest in Equity Schemes unless they can afford

to take the risk of losing their investment.

Securities which are not quoted on the stock exchanges are inherently illiquid in nature and carry a larger liquidity risk in comparison with securitiesthat are listed on the exchanges or offer other exit options to the investors, including put options. The AMC may choose to invest in unlisted securities

that offer attractive yields within the regulatory limit. This may however increase the risk of the portfolio.

The liquidity and valuation of the Schemes' investments due to its holdings of unlisted securities may be affected if they have to be sold prior to

the target date of disinvestment.

Investments in money market instruments would involve a moderate credit risk i.e. risk of an issuer's liability to meet the principal payments.

Money market instruments may also be subject to price volatility due to factors such as changes in interest rates, general level of market liquidityand market perception of credit worthiness of the issuer of such instruments. The AMC endeavours to manage such risk by the use of inhouse creditanalysis. The NAV of Equity Schemes' Units, to the extent that such Schemes are invested in money market instruments, will be affected by the

changes in the level of interest rates. When interest rates in the market rise, the value of a portfolio of money market instruments can be expectedto decline. The NAV of FIOF will also be affected by Risks associated with investments made in derivatives. The NAV of the Equity Schemes willalso be affected by Risk Factors associated with scrip lending and investments in Foreign Securities.

Risk Factors pertaining to Debt Schemes

In addition to the factors that affect the values of securities, the NAV of Units of the Debt Schemes will fluctuate with the movement in the broader

fixed income, money market and derivatives market and may be influenced by factors influencing such markets in general including but not limitedto economic conditions, changes in interest rates, price and volume volatility in the fixed income markets, changes in taxation, currency exchange

rates, foreign investments, political, economic or other developments and closure of the stock exchanges. Further the investments made by the DebtSchemes will also be affected by interest rate/price risk, credit risk or default risk, sovereign risk, liquidity risk, reinvestment risk, settlement risk,

risk associated with investment in derivatives and foreign securities.

Risks Factors associated with transaction in Units through stock exchange(s)

In respect of transaction in Units of the Scheme through BSE and/or NSE, allotment and redemption of Units on any Business Day will depend uponthe order processing/settlement by BSE and/or NSE and their respective clearing corporations on which the Fund has no control.

Additional Scheme Specific Risk Factors

FTAF: By virtue of requirements under ELSS, Units issued under FTAF will not be redeemed until the expiry of three years from the date oftheir allotment. The ability of an investor to realise returns on investments in FTAF is consequently restricted for the first three years. Redemption

will be made prior to the expiry of the aforesaid three year period only in the event of the death of a Unit Holder, subject to the Units havingbeen held for a period of one year from the date of their allotment.

FWBF: The Plan's performance will be affected by the performance of the underlying schemes and it will be subject to all the risks associatedwith the underlying schemes and the AMC's decision to choose an underlying scheme may not always be profitable. The investors may incur

load on two occasions if the AMC were to charge loads and the underlying schemes do not waive/exempt loads charged by them. Investorswill bear the recurring expenses of the scheme in addition to the expenses of the underlying schemes and therefore the returns that they mayobtain may be materially impacted or at times may be lower than the returns that they may obtain by investing directly in the underlying schemes.

FGRAF: The assets of the Scheme shall be predominantly invested in the shares/units of the Underlying Scheme. However, due to marketconditions in the jurisdiction in which the Scheme invests, the AMC may, for short term purposes and with a view to protect the interest of

Unit Holders, deviate from the asset allocation range set out in this Scheme Information Document subject to limitations prescribed in by SEBI/RBI from time to time. Unit Holders will not be given any prior intimation or indication when the composition/asset allocation pattern under theScheme changes within the broad range set out in the Scheme Information Document The Scheme's performance will be affected by the

performance of the Underlying Scheme and it will be subject to all the risks associated with the Underlying Scheme. Investors will be bearing

the expenses of the Scheme in addition to the expenses of the Underlying Scheme. Investors could incur load charges on two occasions.First, on their redemptions/switchouts in the options under the Scheme and second, on the Scheme's investment/redemption/switches in theoptions under the Underlying Scheme, if any.

Date: November 29, 2010

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INVESTMENT STRATEGIES OF THE SCHEMES

Fidelity Equity Fund The investment approach is bottom-up stock picking. The Scheme seeks to add the best opportunities that the market presents, without any sector/cap bias.

Diversification: The Scheme will be well diversified across sectors in about 60 to 80 stocks. Maximum exposure to a single sector shall be 25%of the net assets of the Scheme. The Scheme is likely to be fully invested in equity at all times.

Bottom-up stock picking: Consistent with Fidelity's approach, the Scheme focuses on bottom-up stock picking (i.e. focussing solely on prospectsof individual stocks) as opposed to a top-down approach (i.e. predicting macro economic and political trends and taking investment decisions basedon them).

No cap bias: It will seek to identify the best stocks at a point in time, regardless of any market cap bias.

Fidelity TaxAdvantage Fund

Fidelity India SpecialSituations Fund

The investment approach is bottom-up stock picking. The Scheme seeks to add the best opportunities that the market presents, without any sector/cap bias.

Diversification: The Scheme will be well diversified across sectors in about 60 to 80 stocks but it could hold more than 80 stocks at any given

time. Maximum exposure to a single sector shall be 25% of the net assets of the Scheme. While holdings in individual stocks will generally notexceed 4% of net assets of the Scheme, there may be times when considering the investment opportunities, holdings in certain stocks could bein excess of 4%. The Scheme is likely to be fully invested in equity at all times.

Bottom-up stock picking: Consistent with Fidelity's approach, the Scheme focuses on bottom-up stock picking (i.e. focusing solely on prospectsof individual stocks) as opposed to a top-down approach (i.e. predicting macro economic and political trends and taking investment decisions basedon them).

No cap bias: It will seek to identify the best stocks at a point in time, regardless of any market cap bias

Fidelity InternationalOpportunities Fund

Fidelity India GrowthFund

The Scheme will primarily be a diversified equity fund which will likely (in normal market conditions) invest largely in growth oriented companiesin Indian and international markets to generate long-term capital appreciation.

The investment approach is bottom-up stock picking. The Scheme seeks to invest in the best opportunities in the Indian and international markets,without any sector/cap bias. However, while investing in the international markets, the fund managers expect to identify such investments whichcould provide opportunity to participate in the Indian economy. For example - Indian businesses that are listed in international markets or internationalcompanies that participate in the Indian economy. A limited exposure to various equity derivatives instruments is likely - for the purposes of hedging,portfolio balancing and optimizing returns.

Diversification: Subject to SEBI regulations, the Scheme will be well diversified across stocks and sectors. A limited exposure to various equityderivatives instruments is likely - for the purpose of hedging, portfolio balancing and optimizing returns.

Stock Selection: The fund managers will adopt a methodology of bottom-up stock selection, with an emphasis on first-hand research. They willfavour companies that offer the best value relative to their respective long-term growth prospects, returns in capital and management quality. Whenassessing a company, the fund managers will focus on understanding how each of these factors will change over time.

Investments in Foreign Securities shall be subject to the investment restrictions specified by SEBI/RBI from time to time. The fund manager willconsider all relevant risk before making any investment in Foreign Securities. The Scheme may invest in equity derivatives instruments to the extentpermitted under and in accordance with the applicable Regulations, including for the purposes of hedging, portfolio balancing and optimizing returns.Hedging does not mean maximization of returns but only attempts to reduce systemic or market risk that may be inherent in the investment.

The Scheme will primarily be a diversified equity fund which will seek to invest in undervalued companies in Indian and international markets togenerate long-term capital appreciation.

The investment approach is bottom-up stock picking. The Scheme seeks to invest in the best opportunities in the Indian and international markets,without any sector/cap bias. However, the fund managers expect to have a high focus on opportunities in Asia Pacific region including India. A limitedexposure to various equity derivatives instruments is likely - for the purposes of hedging, portfolio balancing and optimizing returns.

Diversification: Subject to SEBI regulations, the Scheme will be well diversified across stocks, sectors and countries given that investments willbe made in the international markets with a bias towards the Asia Pacific region including India. A limited exposure to various equity derivativesinstruments is likely - for the purpose of hedging, portfolio balancing and optimizing returns.

Stock Selection: The fund managers will adopt a methodology of bottom-up stock selection, with an emphasis on first-hand research. They willfavour companies that offer the best value relative to their respective long-term growth prospects, returns in capital and management quality. When

assessing a company, the fund managers will focus on understanding how each of these factors will change over time.

Investments in Foreign Securities shall be subject to the investment restrictions specified by SEBI/RBI from time to time. The fund manager willconsider all relevant risk before making any investment in Foreign Securities. The Scheme may invest in equity derivatives instruments to the extentpermitted under and in accordance with the applicable Regulations, including for the purposes of hedging, portfolio balancing and optimizing returns.Hedging does not mean maximization of returns but only attempts to reduce systemic or market risk that may be inherent in the investment.

The Scheme will, primarily be a diversified equity fund which will seek to invest in undervalued companies for long term investment with key themefocus being "Special Situations" - these are situations that are out-of-the-ordinary and which therefore present interesting stock picking opportunities.

The types of companies that may fall within the scope of such Special Situations could include but are not limited to:

companies with recovery potential.

companies whose growth potential, may not be fully recognised by the market.

companies with hidden/undervalued assets whose value, may not be fully recognised by the market.

companies with interesting product pipelines which could offer good earnings potential.

companies undertaking corporate restructuring.

companies which could be potential candidates for mergers and acquisitions related activities.

The investment approach will be bottom-up stock picking - where investments will be selected primarily on the basis of specific criteria relevantto the company in question rather than general macro-economic considerations. There will be no particular bias towards any market cap size orany sector. The Scheme will endeavour to remain fully invested in equity and related instruments at all times. A limited exposure to various derivativesinstruments is likely - for the purposes of hedging, portfolio balancing and optimising returns.

The Scheme may invest in derivatives instruments to the extent permitted under and in accordance with the applicable Regulations, including forthe purposes of hedging, portfolio balancing and optimizing returns. Hedging does not mean maximization of returns but only attempts to reducesystemic or market risk that may be inherent in the investment.

Fidelity Flexi BondFund

The portfolio will be constructed and actively managed to generate returns to match the investment objective and to maintain adequate liquidityto accommodate funds movement. Capital appreciation opportunities could be explored by extending credit and duration exposure. The fundmanagement team will take an active view of the interest rate movement supported by quantitative research, to include various parameters of theIndian economy, as well as developments in global markets. Investment views/decisions will be a combination of credit analysis of individualexposures and analysis of macro economic factors to estimate the direction of interest rates and level of liquidity and will be taken, inter alia, onthe basis of the following parameters:

1. Prevailing interest rate scenario

2. Returns offered relative to alternative investment opportunities.

3. Quality of the security/instrument (including the financial health of the issuer)

4. Maturity profile of the instrument

5. Liquidity of the security

6. Any other factors considered relevant in the opinion of the fund management team.The Scheme may invest in derivatives upto 100% of the net assets of the Scheme for the purpose of hedging and portfolio balancing purposes.Hedging does not mean maximization of returns but only attempts to reduce systemic or market risk that may be inherent in the investment.

The Scheme may also invest in permitted offshore instruments for diversification.

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INVESTMENT STRATEGIES OF THE SCHEMES (contd..)

Fidelity Cash Fund

Fidelity Ultra ShortTerm Debt Fund

Fidelity Flexi GiltFund

Fidelity WealthBuilder Fund

The portfolio will be constructed and managed to generate sovereign linked returns to match the investment objective and to maintain adequate

liquidity to accommodate funds movement.

The fund management team will take an active view of the interest rate movement supported by quantitative research, to include various parameters

of the Indian economy, as well as developments in global markets. Investment views/decisions will be based on analysis of macro economic factors

to estimate the direction of interest rates and level of liquidity and will be taken, inter alia, on the basis of the following parameters:1. Prevailing interest rate scenario


3. Quality of the security/instrument



6. Any other factors considered relevant in the opinion of the fund management team.

Investments in debt instruments carry various risks such as interest rate risk, liquidity risk, default risk, reinvestment risk etc. Whilst such risks cannot

be eliminated, they may be minimized by diversification and effective use of hedging techniques.

The Scheme may invest in derivatives up to 100% of the net assets of the Scheme for efficient portfolio management including hedging and portfolio

balancing to the extent permitted under and in accordance with the applicable Regulations. Hedging does not mean maximization of returns but

only attempts to reduce systemic or market risk that may be inherent in the investment.


The portfolio will be constructed and actively managed to generate returns to match the investment objective and to maintain adequate liquidity

to accommodate funds movement. As the interest rate risk of the portfolio is likely to be similar to that of the shorter end of the maturity spectrum,

in line with the investment objective, a significant proportion of the total returns is likely to be in the form of income yield or accrual. Selective capital

appreciation opportunities could be explored by extending credit and duration exposure above that offered by a cash fund.

The fund management team will take an active view of the interest rate movement supported by quantitative research, to include various parameters

of the Indian economy, as well as developments in global markets. Investment views/decisions will be a combination of credit analysis of individual

exposures and analysis of macro economic factors to estimate the direction of interest rates and level of liquidity and will be taken, inter alia, on

the basis of the following parameters:

1. Prevailing interest rate scenario


3. Quality of the security/instrument (including the financial health of the issuer)



6. Any other factors considered relevant in the opinion of the fund management team.

The Scheme may invest upto 100% of the net assets of the Scheme in derivatives for the purpose of hedging and portfolio balancing purposes.

Hedging does not mean maximization of returns but only attempts to reduce systemic or market risk that may be inherent in the investment.


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