Fidelity Global Technology Fund

Investment Strategy

Fidelity Global Technology Fund delivers targeted exposure to dynamic growth opportunities across the global technology sector.

Performance

Annual compound performance – as at 31-Jul-2010

	Fund	Morningstar Quartile*	Benchmark
1 month	4.21%	1	3.75%
3 month	-8.35%	4	-6.73%
6 month	-1.37%	3	-0.51%
1 year	5.01%	3	7.38%
2 year	0.35%	2	-0.40%
3 year	-6.74%	3	-5.12%
5 year	-1.27%	2	-0.21%
7 year	-1.00%	3	1.27%
10 year	-11.32%	2	-9.60%
YTD	-6.36%	3	-5.13%
Since Inception	-0.61%	—	—

Calendar year performance – as at 31-Jul-2010

Growth of $10,000 since inception – as at 30-Jun-2010

Annual compound performance – as at 31-Jul-2010

	Fund	Morningstar Quartile*	Benchmark
1 month	4.23%	1	3.75%
3 month	-8.29%	4	-6.73%
6 month	-1.24%	3	-0.51%
1 year	5.26%	3	7.38%
2 year	0.58%	2	-0.40%
3 year	-6.54%	3	-5.12%
5 year	-1.07%	2	-0.21%
7 year	-0.83%	3	1.27%
10 year	-11.22%	1	-9.60%
YTD	-6.22%	3	-5.13%
Since Inception	-0.53%	—	—

Calendar year performance – as at 31-Jul-2010

Growth of $10,000 since inception – as at 30-Jun-2010

Annual compound performance – as at 31-Jul-2010

	Fund	Morningstar Quartile*	Benchmark
1 month	4.32%	—	3.75%
3 month	-8.05%	—	-6.73%
6 month	-0.71%	—	-0.51%
1 year	6.38%	—	7.38%
2 year	1.65%	—	-0.40%
3 year	-5.53%	—	-5.12%
5 year	0.00%	—	-0.21%
7 year	0.24%	—	1.27%
10 year	—	—	—
YTD	-5.63%	—	-5.13%
Since Inception	-9.38%	—	—

Calendar year performance – as at 31-Jul-2010

Growth of $10,000 since inception – as at 30-Jun-2010

Annual compound performance – as at 31-Jul-2010

	Fund	Morningstar Quartile*	Benchmark
1 month	7.92%	—	7.05%
3 month	-9.40%	—	-8.28%
6 month	2.59%	—	2.92%
1 year	10.05%	—	12.72%
2 year	0.15%	—	-0.62%
3 year	-5.58%	—	-3.98%
5 year	2.24%	—	3.33%
7 year	3.52%	—	5.90%
10 year	-7.98%	—	-6.23%
YTD	-4.29%	—	-3.44%
Since Inception	1.61%	—	—

Calendar year performance – as at 31-Jul-2010

Annual compound performance – as at 31-Jul-2010

	Fund	Morningstar Quartile*	Benchmark
1 month	7.94%	—	7.05%
3 month	-9.34%	—	-8.28%
6 month	2.73%	—	2.92%
1 year	10.32%	—	12.72%
2 year	0.38%	—	-0.62%
3 year	-5.38%	—	-3.98%
5 year	2.45%	—	3.33%
7 year	3.69%	—	5.90%
10 year	-7.88%	—	-6.23%
YTD	-4.15%	—	-3.44%
Since Inception	1.70%	—	—

Calendar year performance – as at 31-Jul-2010

Annual compound performance – as at 31-Jul-2010

	Fund	Morningstar Quartile*	Benchmark
1 month	8.03%	—	7.05%
3 month	-9.10%	—	-8.28%
6 month	3.28%	—	2.92%
1 year	11.49%	—	12.72%
2 year	1.45%	—	-0.62%
3 year	-4.36%	—	-3.98%
5 year	3.56%	—	3.33%
7 year	4.80%	—	5.90%
10 year	—	—	—
YTD	-3.55%	—	-3.44%
Since Inception	-5.82%	—	—

Calendar year performance – as at 31-Jul-2010

Fund risk measures – as at 31-Jul-2010

	Fund	Benchmark
Annual Standard Deviation	19.94	18.84
Beta	1.03	—
R²	0.96	—

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

$8.40 – as at 03-Sep-2010

Fund inception date

05-Jun-1997

Fund benchmark

MSCI AC World Information Technology Index

Fund aggregate assets (all available series)

$53.1 million
as at 31-Jul-2010

Management expense ratio - Series B

2.38% – as at 31-Mar-2010

Top Ten Holdings

Microsoft
Cisco Systems
Apple
Samsung Electronics
Oracle
EBAY INC
Applied Materials
Ericsson, Cl. B
Hewlett-Packard
Intel
Total number of holdings	71
Top 10 holdings aggregate	37.9%

Full holdings

Allocation

Asset mix

Sector mix

Country mix

Asset mix

Sector mix

Country mix

Asset mix

Sector mix

Country mix

Footnotes and disclosures

* ©2010 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.

^**Prior to October 1, 2006, the Fund’s benchmark was the FTSE Global Technology customized index. Prior to June 1, 2003, the benchmark was the Goldman Sachs Technology Index. Prior to June 2, 2003, the Fund’s investment objective was to invest primarily in U.S. companies.

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.