Fidelity Advisor
®
Intermediate Bond Fund
|
Class
/Ticker
|
|
A
/FDIAX
|
T
/FTBRX
|
B
/FIBBX
|
C
/FNBCX
|
|
(To be renamed "Fidelity Advisor Limited Term Bond Fund" effective October 30,
2013)
Summary Prospectus
October 30, 2012
As Revised August 1, 2013
Fund Summary
Fund
/Class:
Fidelity Advisor
®
Intermediate Bond Fund
/A, T, B, C
Investment Objective
The fund seeks to provide a high rate of income.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, or sell shares of the fund.
You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the fund or certain
other Fidelity funds. More information about these and other discounts is available from your investment professional and in the Fund Distribution section beginning on page 27 of the prospectus.
|
Shareholder fees
(fees paid directly from your investment)
|
|
|
Class A
|
|
Class T
|
|
Class B
|
|
Class C
|
|
Maximum sales charge (load) on purchases (as a % of offering price)
|
2.75%
|
|
2.75%
|
|
None
|
|
None
|
|
Maximum contingent deferred sales charge (as a % of the lesser of original purchase price or redemption proceeds)
|
None
A
|
|
None
B
|
|
3.00%
C
|
|
1.00%
D
|
A
Purchases of $250,000 or more will not be subject to a front-end sales charge, but may be subject to a 0.50% contingent deferred sales charge (CDSC) if the intermediary has elected an upfront finder's fee at the
time the shares are purchased, or a 0.75% CDSC if the shares purchased are recordkept in a Fidelity Advisor 401(k) Retirement Plan.
B
Purchases of $250,000 or more will not be subject to a front-end sales charge but may be subject to a 0.25% CDSC if a finder's fee is paid at the time the shares are purchased.
C
Declines over 3 years from 3.00% to 0%.
D
On Class C shares redeemed less than one year after purchase.
Annual class operating expenses
(expenses that you pay each year as a % of the value of your investment)
|
|
Class A
|
|
Class T
|
|
Class B
|
|
Class C
|
|
Management fee
|
0.32%
|
|
0.32%
|
|
0.32%
|
|
0.32%
|
|
Distribution and/or Service (12b-1) fees
|
0.25%
|
|
0.25%
|
|
0.90%
|
|
1.00%
|
|
Other expenses
|
0.26%
|
|
0.23%
|
|
0.33%
|
|
0.25%
|
|
Total annual operating expenses
|
0.83%
|
|
0.80%
|
|
1.55%
|
|
1.57%
|
Summary Prospectus
This
example
helps compare the cost of investing in the fund with the cost of investing in other mutual funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses
for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in
total expenses if you sell all of your shares at the end of each time period indicated and if you hold your shares:
|
Class A
|
Class T
|
Class B
|
Class C
|
|
|
Sell All
Shares
|
Hold
Shares
|
Sell All
Shares
|
Hold
Shares
|
Sell All
Shares
|
Hold
Shares
|
Sell All
Shares
|
Hold
Shares
|
|
1 year
|
$ 357
|
$ 357
|
$ 354
|
$ 354
|
$ 458
|
$ 158
|
$ 260
|
$ 160
|
|
3 years
|
$ 533
|
$ 533
|
$ 523
|
$ 523
|
$ 590
|
$ 490
|
$ 496
|
$ 496
|
|
5 years
|
$ 723
|
$ 723
|
$ 707
|
$ 707
|
$ 761
|
$ 761
|
$ 855
|
$ 855
|
|
10 years
|
$ 1,272
|
$ 1,272
|
$ 1,238
|
$ 1,238
|
$ 1,311
|
$ 1,311
|
$ 1,867
|
$ 1,867
|
Portfolio Turnover
The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover
rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are
not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio
turnover rate was 129% of the average value of its portfolio.
Principal Investment Strategies
Until October 30, 2013, the Principal Investment Strategies of the fund are as follows:
-
Normally investing at least 80% of assets in investment-grade debt securities (those of medium and high quality) of all types and repurchase
agreements for those securities.
-
Managing the fund to have similar overall interest rate risk to the Barclays
®
U.S. Intermediate Government/Credit Bond Index.
-
Normally maintaining a dollar-weighted average maturity between three and 10 years.
-
Allocating assets across different market sectors and maturities.
-
Investing in domestic and foreign issuers.
-
Analyzing the credit quality of the issuer, security-specific features, current and potential future valuation, and trading opportunities to select
investments.
-
Engaging in transactions that have a leveraging effect on the fund, including investments in derivatives - such as swaps (interest rate, total
return, and credit default), options, and futures contracts - and forward-settling securities, to adjust the fund's risk exposure.
Summary Prospectus
Fund Summary - continued
-
Investing in Fidelity's central funds (specialized investment vehicles used by Fidelity funds to invest in particular security types or investment
disciplines).
Effective October 30, 2013, the preceding Principal Investment Strategies will be replaced with the following:
-
Normally investing at least 80% of assets in investment-grade debt securities (those of medium and high quality) of all types and repurchase
agreements for those securities.
-
Managing the fund to have similar overall interest rate risk to the Fidelity Limited Term Composite Index
SM
.
-
Normally maintaining a dollar-weighted average maturity between two and five years.
-
Allocating assets across different market sectors and maturities.
-
Investing in domestic and foreign issuers.
-
Analyzing the credit quality of the issuer, security-specific features, current and potential future valuation, and trading opportunities to select
investments.
-
Engaging in transactions that have a leveraging effect on the fund, including investments in derivatives - such as swaps (interest rate, total
return, and credit default), options, and futures contracts - and forward-settling securities, to adjust the fund's risk exposure.
-
Investing in Fidelity's central funds (specialized investment vehicles used by Fidelity funds to invest in particular security types or investment
disciplines).
Principal Investment Risks
-
Interest Rate Changes.
Interest rate increases can cause the price of a debt security to decrease.
-
Foreign Exposure.
Foreign markets can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory,
market, or economic developments and can perform differently from the U.S. market.
-
Prepayment.
The ability of an issuer of a debt security to repay principal prior to a security's maturity can cause greater price volatility if interest rates change.
-
Issuer-Specific Changes.
The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole. A decline in the credit quality of an issuer or a provider of credit support or a maturity-shortening structure for a
security can cause the price of a security to decrease.
-
Leverage Risk.
Leverage can increase market exposure, magnify investment risks, and cause losses to be realized more quickly.
An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other
government agency. Unlike individual debt securities, which typically pay principal at maturity, the value of an investment in the fund will fluctuate. You could lose money by investing in the fund.
Summary Prospectus
Performance
The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index
over various periods of time. The index description appears in the Additional Information about the Index section of the prospectus. Past performance (before and after taxes) is not an indication of future performance.
Visit www.advisor.fidelity.com for updated return information.
Year-by-Year Returns
The returns in the bar chart do not reflect any applicable sales charges; if sales charges were reflected, returns would be lower than those
shown.
|
Calendar Years
|
2002
|
2003
|
2004
|
2005
|
2006
|
2007
|
2008
|
2009
|
2010
|
2011
|
|
|
10.06%
|
4.63%
|
3.43%
|
1.51%
|
4.05%
|
3.18%
|
-7.31%
|
17.26%
|
7.73%
|
5.82%
|
|
During the periods shown in the chart for Class A:
|
Returns
|
Quarter ended
|
|
Highest Quarter Return
|
6.93%
|
June 30, 2009
|
|
Lowest Quarter Return
|
-3.66%
|
December 31, 2008
|
|
Year-to-Date Return
|
4.15%
|
September 30, 2012
|
Average Annual Returns
Unlike the returns in the bar chart, the returns in the table reflect the maximum applicable sales charges. After-tax returns are calculated using
the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. After-tax returns for Class A
are shown in the table below and after-tax returns for other classes will vary. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement.
Summary Prospectus
Fund Summary - continued
|
For the periods ended
December 31, 2011
|
Past 1
year
|
Past 5
years
|
Past 10
years
|
|
Class A - Return Before Taxes
|
2.91%
|
4.45%
|
4.57%
|
|
Return After Taxes on Distributions
|
1.97%
|
3.07%
|
3.11%
|
|
Return After Taxes on Distributions and Sale of Fund Shares
|
1.88%
|
2.97%
|
3.05%
|
|
Class T - Return Before Taxes
|
3.03%
|
4.50%
|
4.54%
|
|
Class B - Return Before Taxes
|
2.18%
|
4.44%
|
4.54%
|
|
Class C - Return Before Taxes
|
4.07%
|
4.26%
|
4.04%
|
|
Barclays
®
U.S. Intermediate Government/Credit Bond Index
(reflects no deduction for fees, expenses, or taxes)
|
5.80%
|
5.88%
|
5.20%
|
Effective October 30, 2013, the fund will begin comparing its performance to the Barclays U.S. 1-5 Year Government/Credit Bond Index rather than
the Barclays U.S. Intermediate Government/Credit Bond Index because the Barclays U.S. 1-5 Year Government/Credit Bond Index conforms more
closely to the fund's revised investment policies. The fund will also compare its performance to the Fidelity Limited Term Composite Index
SM
.
Investment Advisers
Fidelity Management & Research Company (FMR) is the fund's manager. Fidelity Investments Money Management, Inc. (FIMM) and other investment advisers serve as sub-advisers for the fund.
Portfolio Manager(s)
Robert Galusza (lead portfolio manager) has managed the fund since July 2009.
Ford O'Neil (co-manager) has managed the fund since December 2004.
Purchase and Sale of Shares
You may buy or sell Class A, Class T, Class B, and Class C shares of the fund through a retirement account or through an investment professional.
You may buy or sell shares in various ways:
|
Internet
www.advisor.fidelity.com
|
|
Phone
To reach a Fidelity representative 1-877-208-0098
|
|
Mail
|
|
Fidelity Investments
P.O. Box 770002
Cincinnati, OH 45277-0081
|
Overnight Express:
Fidelity Investments
100 Crosby Parkway
Covington, KY 41015
|
Subject to certain limited exceptions described in the Additional Information about the Purchase and Sale of Shares section of the prospectus, the fund no longer accepts investments in Class B shares. Any purchase order for Class B shares of the fund (other than from an existing
Class B shareholder pursuant to an exchange or the reinvestment of dividends and capital gain distributions paid on Class B shares) will be
deemed to be a purchase order for Class A shares of the fund and will be subject to any applicable Class A front-end sales charge.
Summary Prospectus
The price to buy one share of Class A or Class T is its offering price, if you pay a front-end sales charge, or its net asset value per share (NAV), if
you qualify for a front-end sales charge waiver. The price to buy one share of Class B or Class C is its NAV. Your shares will be bought at the offering
price or NAV, as applicable, next calculated after your order is received in proper form.
The price to sell one share of Class A, Class T, Class B, or Class C is its NAV, minus any applicable contingent deferred sales charge (CDSC). Your
shares will be sold at the NAV next calculated after your order is received in proper form, minus any applicable CDSC.
The fund is open for business each day the New York Stock Exchange (NYSE) is open.
|
Initial Purchase Minimum
|
$2,500
|
|
For Fidelity Advisor Traditional IRA, Roth IRA, Rollover IRA, Simplified Employee Pension-IRA, and Keogh accounts
|
$500
|
|
Through a regular investment plan established at the time the fund position is opened
|
$100
|
The fund may waive or lower purchase minimums in other circumstances.
After a maximum of four years from the initial purchase date, Class B shares convert automatically to Class A shares of the fund at NAV.
Tax Information
Distributions you receive from the fund are subject to federal income tax and generally will be taxed as ordinary income or capital gains, and may
also be subject to state or local taxes, unless you are investing through a tax-advantaged retirement account (in which case you may be taxed later,
upon withdrawal of your investment from such account).
Payments to Broker-Dealers and Other Financial Intermediaries
The fund, FMR, Fidelity Distributors Corporation (FDC), and/or their affiliates may pay intermediaries, including banks, broker-dealers, or other
service-providers (who may be affiliated with FMR or FDC), for the sale of fund shares and related services. These payments may create a conflict
of interest by influencing your intermediary and your investment professional to recommend the fund over another investment. Ask your investment professional or visit your intermediary's web site for more information.
Summary Prospectus
FDC is a member of the Securities Investor Protection Corporation (SIPC). You may obtain information about SIPC, including the SIPC brochure, by visiting www.sipc.org or calling SIPC at
202-371-8300.
Fidelity Advisor and Fidelity Investments & Pyramid Design are registered service marks of FMR LLC. © 2013 FMR LLC. All rights reserved.
Fidelity Limited Term Composite Index
is a service mark of FMR LLC.
The third-party marks appearing above are the marks of their respective owners.
1.917741.106 LTB-SUM-1012-01
Fidelity Advisor
®
Intermediate Bond Fund
Class
/Ticker
Institutional
/EFIPX
(To be renamed "Fidelity Advisor Limited Term Bond Fund" effective October 30,
2013)
Summary Prospectus
October 30, 2012
As Revised August 1, 2013
Fund Summary
Fund
/Class:
Fidelity Advisor
®
Intermediate Bond Fund
/Institutional
Investment Objective
The fund seeks to provide a high rate of income.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, or sell shares of the fund.
|
Shareholder fees
(fees paid directly from your investment)
|
None
|
Annual class operating expenses
(expenses that you pay each year as a % of the value of your investment)
|
Management fee
|
0.32%
|
|
Distribution and/or Service (12b-1) fees
|
None
|
|
Other expenses
|
0.26%
|
|
Total annual operating expenses
|
0.58%
|
This
example
helps compare the cost of investing in the fund with the cost of investing in other mutual funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses
for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in
total expenses if you sell all of your shares at the end of each time period indicated:
|
1 year
|
$ 59
|
|
3 years
|
$ 186
|
|
5 years
|
$ 324
|
|
10 years
|
$ 726
|
Portfolio Turnover
The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover
rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which
are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's
portfolio turnover rate was 129% of the average value of its portfolio.
Summary Prospectus
Principal Investment Strategies
Until October 30, 2013, the Principal Investment Strategies of the fund are as follows:
-
Normally investing at least 80% of assets in investment-grade debt securities (those of medium and high quality) of all types and repurchase
agreements for those securities.
-
Managing the fund to have similar overall interest rate risk to the Barclays
®
U.S. Intermediate Government/Credit Bond Index.
-
Normally maintaining a dollar-weighted average maturity between three and 10 years.
-
Allocating assets across different market sectors and maturities.
-
Investing in domestic and foreign issuers.
-
Analyzing the credit quality of the issuer, security-specific features, current and potential future valuation, and trading opportunities to select
investments.
-
Engaging in transactions that have a leveraging effect on the fund, including investments in derivatives - such as swaps (interest rate, total
return, and credit default), options, and futures contracts - and forward-settling securities, to adjust the fund's risk exposure.
-
Investing in Fidelity's central funds (specialized investment vehicles used by Fidelity funds to invest in particular security types or investment
disciplines).
Effective October 30, 2013, the preceding Principal Investment Strategies will be replaced with the following:
-
Normally investing at least 80% of assets in investment-grade debt securities (those of medium and high quality) of all types and repurchase
agreements for those securities.
-
Managing the fund to have similar overall interest rate risk to the Fidelity Limited Term Composite Index
SM
.
-
Normally maintaining a dollar-weighted average maturity between two and five years.
-
Allocating assets across different market sectors and maturities.
-
Investing in domestic and foreign issuers.
-
Analyzing the credit quality of the issuer, security-specific features, current and potential future valuation, and trading opportunities to select
investments.
-
Engaging in transactions that have a leveraging effect on the fund, including investments in derivatives - such as swaps (interest rate, total
return, and credit default), options, and futures contracts - and forward-settling securities, to adjust the fund's risk exposure.
-
Investing in Fidelity's central funds (specialized investment vehicles used by Fidelity funds to invest in particular security types or investment
disciplines).
Summary Prospectus
Fund Summary - continued
Principal Investment Risks
-
Interest Rate Changes.
Interest rate increases can cause the price of a debt security to decrease.
-
Foreign Exposure.
Foreign markets can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory,
market, or economic developments and can perform differently from the U.S. market.
-
Prepayment.
The ability of an issuer of a debt security to repay principal prior to a security's maturity can cause greater price volatility if
interest rates change.
-
Issuer-Specific Changes.
The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole. A decline in the credit quality of an issuer or a provider of credit support or a maturity-shortening structure for a
security can cause the price of a security to decrease.
-
Leverage Risk.
Leverage can increase market exposure, magnify investment risks, and cause losses to be realized more quickly.
-
An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any
other government agency. Unlike individual debt securities, which typically pay principal at maturity, the value of an investment in the fund will
fluctuate. You could lose money by investing in the fund.
Performance
The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the
performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market
index over various periods of time. The index description appears in the Additional Information about the Index section of the prospectus. Past
performance (before and after taxes) is not an indication of future performance.
Visit www.advisor.fidelity.com for updated return information.
Summary Prospectus
Year-by-Year Returns
|
Calendar Years
|
2002
|
2003
|
2004
|
2005
|
2006
|
2007
|
2008
|
2009
|
2010
|
2011
|
|
|
10.31%
|
4.77%
|
3.58%
|
1.68%
|
4.22%
|
3.44%
|
-6.98%
|
17.71%
|
7.90%
|
6.17%
|
|
During the periods shown in the chart:
|
Returns
|
Quarter ended
|
|
Highest Quarter Return
|
7.02%
|
June 30, 2009
|
|
Lowest Quarter Return
|
-3.57%
|
December 31, 2008
|
|
Year-to-Date Return
|
4.33%
|
September 30, 2012
|
Average Annual Returns
After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state
or local taxes. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if
you hold your shares in a retirement account or in another tax-deferred arrangement.
|
For the periods ended
December 31, 2011
|
Past 1
year
|
Past 5
years
|
Past 10
years
|
|
Institutional Class
|
|
|
|
|
Return Before Taxes
|
6.17%
|
5.35%
|
5.11%
|
|
Return After Taxes on Distributions
|
5.10%
|
3.85%
|
3.56%
|
|
Return After Taxes on Distributions and Sale of Fund Shares
|
3.99%
|
3.67%
|
3.47%
|
|
Barclays
®
U.S. Intermediate Government/Credit Bond Index
(reflects no deduction for fees, expenses, or taxes)
|
5.80%
|
5.88%
|
5.20%
|
Effective October 30, 2013, the fund will begin comparing its performance to the Barclays U.S. 1-5 Year Government/Credit Bond Index rather than
the Barclays U.S. Intermediate Government/Credit Bond Index because the Barclays U.S. 1-5 Year Government/Credit Bond Index conforms more
closely to the fund's revised investment policies. The fund will also compare its performance to the Fidelity Limited Term Composite Index
SM
.
Investment Advisers
Fidelity Management & Research Company (FMR) is the fund's manager. Fidelity Investments Money Management, Inc. (FIMM) and other investment advisers serve as sub-advisers for the fund.
Summary Prospectus
Fund Summary - continued
Portfolio Manager(s)
Robert Galusza (lead portfolio manager) has managed the fund since July 2009.
Ford O'Neil (co-manager) has managed the fund since December 2004.
Purchase and Sale of Shares
Institutional Class eligibility requirements are listed in the Additional Information about the Purchase and Sale of Shares section of the prospectus.
You may buy or sell Institutional Class shares of the fund through a retirement account or through an investment professional. You may buy or
sell shares in various ways:
|
Internet
www.advisor.fidelity.com
|
|
Phone
To reach a Fidelity representative 1-877-208-0098
|
|
Mail
|
|
Fidelity Investments
P.O. Box 770002
Cincinnati, OH 45277-0081
|
Overnight Express:
Fidelity Investments
100 Crosby Parkway
Covington, KY 41015
|
The price to buy one share of Institutional Class is its net asset value per share (NAV). Your shares will be bought at the NAV next calculated
after your order is received in proper form.
The price to sell one share of Institutional Class is its NAV. Your shares will be sold at the NAV next calculated after your order is received in proper form.
The fund is open for business each day the New York Stock Exchange (NYSE) is open.
|
Initial Purchase Minimum
|
$2,500
|
|
For Fidelity Advisor Traditional IRA, Roth IRA, Rollover IRA, Simplified Employee Pension-IRA, and Keogh accounts
|
$500
|
|
Through a regular investment plan established at the time the fund position is opened
|
$100
|
The fund may waive or lower purchase minimums in other circumstances.
Tax Information
Distributions you receive from the fund are subject to federal income tax and generally will be taxed as ordinary income or capital gains, and may
also be subject to state or local taxes, unless you are investing through a tax-advantaged retirement account (in which case you may be taxed later,
upon withdrawal of your investment from such account).
Payments to Broker-Dealers and Other Financial Intermediaries
The fund, FMR, Fidelity Distributors Corporation (FDC), and/or their affiliates may pay intermediaries, including banks, broker-dealers, or other service-providers (who may be affiliated with FMR or FDC), for the sale of fund shares and related services. These payments may create a
conflict of interest by influencing your intermediary and your investment professional to recommend the fund over another investment. Ask your
investment professional or visit your intermediary's web site for more information.
Summary Prospectus
FDC is a member of the Securities Investor Protection Corporation (SIPC). You may obtain information about SIPC, including the SIPC brochure, by visiting www.sipc.org or calling SIPC at
202-371-8300.
Fidelity Advisor and Fidelity Investments & Pyramid Design are registered service marks of FMR LLC. © 2013 FMR LLC. All rights reserved.
Fidelity Limited Term Composite Index
is a service mark of FMR LLC.
The third-party marks appearing above are the marks of their respective owners.
1.917742.103 LTBI-SUM-1012-01
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