Fidelity Global Asset Allocation Fund

Investment Strategy

Fidelity Global Asset Allocation Fund combines the flexibility of tactical asset allocation with Fidelity's disciplined "bottom up" investment approach to deliver maximized risk-adjusted return potential.

Performance

Annual compound performance – as at 31-Dec-2011

	Fund	Morningstar Quartile*	Benchmark
1 month	-0.89%	3	-0.07%
3 month	0.65%	4	1.94%
6 month	-0.91%	1	-2.11%
1 year	-2.32%	1	-1.01%
2 year	-0.23%	4	1.89%
3 year	4.63%	4	3.94%
5 year	-1.77%	3	-1.45%
7 year	1.36%	3	1.29%
10 year	0.01%	4	0.21%
YTD	-2.32%	1	-1.01%
Since Inception	4.22%	—	5.30%

Calendar year performance – as at 31-Dec-2011

Growth of $10,000 since inception – as at 31-Jan-2012

Annual compound performance – as at 31-Dec-2011

	Fund	Morningstar Quartile*	Benchmark
1 month	-0.87%	3	-0.07%
3 month	0.70%	4	1.94%
6 month	-0.80%	1	-2.11%
1 year	-2.10%	1	-1.01%
2 year	-0.01%	4	1.89%
3 year	4.86%	4	3.94%
5 year	-1.56%	2	-1.45%
7 year	1.58%	3	1.29%
10 year	0.16%	4	0.21%
YTD	-2.10%	1	-1.01%
Since Inception	4.30%	—	5.30%

Calendar year performance – as at 31-Dec-2011

Growth of $10,000 since inception – as at 31-Jan-2012

Annual compound performance – as at 31-Dec-2011

	Fund	Morningstar Quartile*	Benchmark
1 month	-0.77%	—	-0.07%
3 month	1.00%	—	1.94%
6 month	-0.22%	—	-2.11%
1 year	-0.96%	—	-1.01%
2 year	1.14%	—	1.89%
3 year	6.06%	—	3.94%
5 year	-0.40%	—	-1.45%
7 year	2.74%	—	1.29%
10 year	1.30%	—	0.21%
YTD	-0.96%	—	-1.01%
Since Inception	0.13%	—	-0.32%

Calendar year performance – as at 31-Dec-2011

Growth of $10,000 since inception – as at 31-Jan-2012

Annual compound performance – as at 31-Dec-2011

	Fund	Morningstar Quartile*	Benchmark
1 month	-0.74%	—	-0.22%
3 month	3.61%	—	4.33%
6 month	-6.16%	—	-7.22%
1 year	-4.34%	—	-3.40%
2 year	1.34%	—	3.39%
3 year	11.02%	—	10.83%
5 year	0.92%	—	1.22%
7 year	3.77%	—	3.67%
10 year	4.57%	—	4.82%
YTD	-4.34%	—	-3.40%
Since Inception	5.48%	—	—

Calendar year performance – as at 31-Dec-2011

Annual compound performance – as at 31-Dec-2011

	Fund	Morningstar Quartile*	Benchmark
1 month	-0.72%	—	-0.22%
3 month	3.66%	—	4.33%
6 month	-6.06%	—	-7.22%
1 year	-4.13%	—	-3.40%
2 year	1.56%	—	3.39%
3 year	11.27%	—	10.83%
5 year	1.14%	—	1.22%
7 year	3.98%	—	3.67%
10 year	4.73%	—	4.82%
YTD	-4.13%	—	-3.40%
Since Inception	5.56%	—	—

Calendar year performance – as at 31-Dec-2011

Annual compound performance – as at 31-Dec-2011

	Fund	Morningstar Quartile*	Benchmark
1 month	-0.62%	—	-0.22%
3 month	3.96%	—	4.33%
6 month	-5.51%	—	-7.22%
1 year	-3.01%	—	-3.40%
2 year	2.73%	—	3.39%
3 year	12.54%	—	10.83%
5 year	2.33%	—	1.22%
7 year	5.17%	—	3.67%
10 year	5.92%	—	4.82%
YTD	-3.01%	—	-3.40%
Since Inception	3.64%	—	—

Calendar year performance – as at 31-Dec-2011

Fund risk measures – as at 31-Dec-2011

	Fund	Benchmark
Annual Standard Deviation	9.06	8.49
Beta	1.00	—
R²	0.87	—

Risk measures are based on 3-year net returns (series B). (All returns are calculated in Canadian currency.)

Volatility meter

The volatility meter uses methodology recommended by the Fund Risk Classification Task Force of the Investment Funds Institute of Canada. The Task Force prescribes risk assessment based on historical volatility risk as measured by the standard deviation of fund performance. The Task Force also acknowledges that other types of measurable and nonmeasurable risk may exist. The Task Force reminds investors that historical performance may not be indicative of future returns and a fund’s historical volatility may not be indicative of future volatility.

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Fund facts

NAVPU – Series B

$16.06 – as at 07-Feb-2012

Fund inception date

14-Jan-1993

Fund benchmark

Blended index**

Fund aggregate assets (all series)

$235.4 million
as at 31-Jan-2012

Management expense ratio - Series B

2.35% – as at 30-Sep-2011

Quarterly Top Ten Holdings

Exxon Mobil
AT&T
Google
TYCO INTL LTD
GlaxoSmithKline
Cisco Systems
McDonald's
Rolls-Royce Holdings
Royal Dutch Shell
Kraft Foods, Cl. A
Total number of holdings	774
Total equity holdings	110
Total bond holdings	633
Top 10 holdings aggregate	15.2%

Full holdings

Exxon Mobil
AT&T
Coca Cola
Sawai Pharmaceuticals
GlaxoSmithKline
Japan Tobacco
TYCO INTL LTD
McDonald's
Baxter International
Royal Dutch Shell
Total number of holdings	330
Total equity holdings	80
Total bond holdings	227
Top 10 holdings aggregate	14.7%

Full holdings

Exxon Mobil
Royal Dutch Shell
McDonald's
Coca Cola
AT&T
Dow Chemical
Sawai Pharmaceuticals
Nestlé (Reg.)
MTU AERO ENGINES GMBH
Xstrata
Total number of holdings	343
Total equity holdings	91
Total bond holdings	228
Top 10 holdings aggregate	13.8%

Full holdings

Exxon Mobil
Vodafone Group
Xstrata
Royal Dutch Shell
Coca Cola
Suncor Energy
Citigroup
AT&T
Bayer
Santos
Total number of holdings	358
Total equity holdings	98
Total bond holdings	235
Top 10 holdings aggregate	13.1%

Full holdings

Allocation to funds

Asset mix

Sector mix

Country mix

Asset mix

Sector mix

Country mix

Asset mix

Sector mix

Country mix

Footnotes and disclosures

* ©2011 Morningstar Research Inc. All rights reserved. For greater detail see www.morningstar.ca. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or redistributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any changes or losses arising from any use of this information.

^** The blended index is 65% MSCI AC World Index, 30% Barclays Capital Global Aggregate Bond Index and 5% DEX 91-Day T-Bill Index. Prior to November 27, 2006, the equity portion of the blended index was 65% MSCI World Index. Prior to November 30, 2003, the blended index was 70% MSCI World Index, 25% Lehman Brothers Aggregate Bond Index and 5% Lehman Brothers 3-month T-bill. Prior to October 1, 1998, the blended index was 70% MSCI World, 25% Lehman Brothers Aggregate Bond and 5% Salomon Brothers 3-month T-bill.

^†Percentage of equity holdings.

The indicated rates of return are the historical annual compounded total returns including changes in unit value and the reinvestment of all distributions and do not take into account sales, redemption, distribution, optional charges, or income taxes payable by any securityholder that would have reduced returns.