Fidelity Select Software and IT Services Portfolio FSCSX Strategy

The investment seeks capital appreciation. The fund invests primarily in common stocks. It normally invests at least 80% of assets in securities of companies principally engaged in research, design, production, or distribution of products or processes that relate to software or information-based services. The fund invests in domestic and foreign issuers. It uses fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments. The fund is non-diversified.