Fidelity Corporate Bond Fund

Investment Strategy

Fidelity Corporate Bond Fund seeks to earn a steady flow of income through a disciplined investment approach focusing on bonds issued by Canadian and foreign corporations.

The portfolio manager seeks to add value primarily through security selection and yield-curve strategies, rather than interest rate anticipation.

Performance

Annual compound performance – as at 30-Apr-2012

  Fund Morningstar
Quartile*		 Benchmark
1 month 0.05% — 0.02%
3 month 0.40% — 0.44%
6 month 3.34% — 3.47%
1 year 7.39% — 8.35%
2 year — — —
3 year — — —
5 year — — —
7 year — — —
10 year — — —
YTD 1.56% — 1.45%
Since Inception 5.01% — 6.47%

Calendar year performance – as at 30-Apr-2012

Growth of $10,000 since inception – as at 30-Apr-2012

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.

Portfolio characteristics – as at 31-Mar-2012
  Duration (Option Adjusted)
Fund 6.03 yrs

View other Fidelity funds in this category:

Fund facts

NAVPU – Series B

$10.58 – as at 18-May-2012

Fund inception date

22-Sep-2010

Fund benchmark

DEX Universe All Corporate Bond Index (Capped)

Fund aggregate assets (all series)

$148.9 million
as at 30-Apr-2012

Management expense ratio - Series B

1.68% – as at 31-Dec-2011

Quarterly Top Five Issuers
Government of Canada  
Bank of Montreal  
Bank of Nova Scotia  
First Capital Realty  
Bell Canada  
Total number of holdings 266
Aggregate of top issuers 30.1%
Allocation to funds

Asset Mix
as at 31-Mar-2012

  Current monthLast monthTwo months ago
Canadian Bonds 80.4%74.2%73.5%
Cash & Other -1.5%6.9%5.2%
Foreign Bonds 21.2%18.8%21.3%
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 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.

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