Fidelity Advisor Leveraged Co Stk A

Ticker: FLSAX


Investment Objective
The fund seeks capital appreciation.

Investment Strategy
The fund's manager normally invests at least 80% of the fund's assets in stocks. It normally invests the fund's assets primarily in common stocks of leveraged companies. It defines leveraged companies as companies that issue lower-quality debt and other companies with leveraged capital structures. It may also invest the fund's assets in lower-quality debt securities. It may invest the fund's assets in securities of foreign issuers in addition to securities of domestic issuers.

 Morningstar Category
 Mid-Cap Blend

 Morningstar Style Box

CUSIP: 315805424
General Information
Expense Ratio: 1.2%
Inception Date: 12/27/2000
Fund Manager: Thomas Soviero
Managed Fund Since: 2003
Fund Phone Number: 877-208-0098
Fund Website: www.advisor.fidelity.com
Top 5 Holdings (as of 07/31/2009)
AES Corporation  3.49%
El Paso Corporation  3.11%
Fidelity Cash Central Fund  3.07%
Celanese Corporation  3.07%
Bank of America Corporation  2.87%

Be aware that there are significant differences in risk among investment asset classes. Refer to the investment pyramid for a complete listing of disclosures. Shares of a mutual fund will fluctuate so that, when redeemed, they may be worth more or less than their original cost. Refer to the fund’s prospectus for complete information on the risks and expenses involved with a particular investment. Please note that some fund companies may waive a portion of these expenses.

The program(s) include certain services provided by Lincoln Financial Advisors Corp. (LFA), a broker-dealer (member FINRA) and an affiliate of Lincoln Financial Group, 1300 S. Clinton St., Fort Wayne, IN 46802. Unaffiliated broker-dealers also may provide services to customers.

This information must be preceded or accompanied by prospectuses for the funds listed. The most current information on a specific mutual fund, including risk, fees and expenses can be viewed online at www.LincolnAlliance.com. Paper copies of prospectuses can be requested by calling 800-234-3500. Read the prospectus carefully before investing.

The Morningstar® category is assigned based on the underlying securities in each portfolio as measured by the portfolio statistics and compositions over the past three years.

The Morningstar Style BoxTM provides a graphical representation of the investment style of stocks and mutual funds. For stocks and stock funds, it classifies securities according to market capitalization (the vertical axis) and growth and value factors (the horizontal axis). Fixed income funds are classified according to credit quality (the vertical axis) and sensitivity to changes in interest rates (the horizontal axis).

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The mutual fund information is compiled by NewRiver, Inc., from documents filed with the Securities & Exchange Commission’s EDGAR database. The information is provided on an ‘as is’ basis and without warranties.