SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE
SECURITIES EXCHANGE ACT OF 1934
Filed by the Registrant ☒ Filed by a Party other than the Registrant ☐
Check the appropriate box:
| ☐ | Preliminary Proxy Statement | |
| ☐ | Confidential, for Use of the Commission Only (as permitted by Rule14a-6(e)(2)) | |
| ☒ | Definitive Proxy Statement | |
| ☐ | Definitive Additional Materials | |
| ☐ | Soliciting Material under Rule 14a-12 | |
Variable Insurance Products Fund IV
(Name of Registrant as Specified In Its Charter)
Payment of Filing Fee (Check the appropriate box):
| ☒ | No fee required. | |||
| ☐ | Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. | |||
| (1) | Title of each class of securities to which transaction applies:
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| (2) | Aggregate number of securities to which transaction applies:
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| (3) | Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11:
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| (4) | Proposed maximum aggregate value of transaction:
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| (5) | Total Fee Paid:
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| ☐ | Fee paid previously with preliminary materials. | |||
| ☐ | Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. | |||
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IMPORTANT
Proxy Materials
PLEASE CAST YOUR VOTE NOW!
Variable Insurance Products Fund IV: Telecommunications Portfolio
Dear Shareholder:
A special meeting of shareholders of the Telecommunications Portfolio, a fund of Variance Insurance Products Fund IV, will be held on October 17, 2018. The purpose of the meeting is to provide you with the opportunity to vote on an important proposal that affects the fund and your investment in it. As a shareholder, you have the opportunity to voice your opinion on the matters that affect your fund. This package contains information about the proposal and the materials to use when casting your vote.
Please read the enclosed materials and cast your vote on the proxy card(s) or voting instruction form(s).Please vote your shares promptly. Your vote is extremely important, no matter how large or small your holdings may be.
The proposal has been carefully reviewed by the Board of Trustees. The Trustees, most of whom are not affiliated with Fidelity, are responsible for protecting your interests as a shareholder. The Trustees believe that the proposal to modify the fundamental concentration policy for Telecommunications Portfolio is in the best interests of shareholders. They recommend that you vote for this proposal.
The following Q&A is provided to assist you in understanding the proposal. The proposal is described in greater detail in the enclosed proxy statement.
Voting is quick and easy. Everything you need is enclosed. To cast your vote, simply complete the proxy card(s) or voting instruction form(s) enclosed in this package. Be sure to sign the card(s) or form(s) before mailing them in the postage-paid envelope.
If you have any questions before you vote, please call Fidelity at1-877-208-0098. We’ll be glad to help you get your vote in quickly. Thank you for your participation in this important initiative.
Sincerely,
James C. Curvey
Chairman
Important information to help you understand and vote on the proposals
Please read the full text of the proxy statement. Below is a brief overview of the proposal to be voted upon. Your vote is important. We appreciate you placing your trust in Fidelity and look forward to helping you achieve your financial goals.
What proposal am I being asked to vote on?
You are being asked to vote on the following proposal:
| 1. | To modify the fund’s fundamental concentration policy. |
What is a fundamental concentration policy?
The Investment Company Act of 1940 requires funds to have a policy regarding the concentration of investments in a particular industry, and to make the policy fundamental, which means it is changeable only by shareholder vote. A fund that invests more than 25% of its total assets in a particular industry is concentrating its assets, and as such, has a fundamental concentration policy. Any modification to a fund’s fundamental concentration policy needs shareholder approval.
Why am I being asked to approve the modification of the fundamental concentration policy for Telecommunications Portfolio?
The purpose of the proposal is to modify the fund’s industry concentration policy to align it with changes being made to the Global Industry Classification Standard (GICS), a standardized industry classification system for global equities developed jointly by MSCI and Standard & Poor’s (S&P). The GICS system has four levels comprised of sectors, industry groups, industries and sub-industries. This framework is used to guide the investment policies and performance benchmarks for many of our sector and industry funds.
On an annual basis, MSCI and S&P conduct a review of the GICS structure. As a result of their most recent review, they have announced changes to the GICS structure. The telecommunication services sector will be broadened and renamed communication services and it will include companies from the telecommunications, consumer discretionary and technology sectors. The new sector will better reflect the marketplace evolution in the creation and delivery of media content and the convergence of communication and media companies.
The Board, including the Independent Trustees, has approved, and recommends that shareholders approve, changes to the fundamental concentration policy of Telecommunications Portfolio in order to reposition it to the new Communication Services sector. The fund will be renamed VIP Communication Services Portfolio and its investment policies expanded to include companies in the new sector.
How will the fundamental concentration policy change?
The Board, including the Independent Trustees, has approved, and recommends that shareholders vote to modify the fundamental concentration policy to state: “The fund may not purchase the securities of any issuer if, as a result, less than 25% of the fund’s total assets would
be invested in the securities of issuers principally engaged in the [telecommunications]communication services industries.” (proposed additional language isunderlined, deleted language is [bracketed]).
Are there other changes planned for the fund?
If shareholders approve the proposal, the fund will change its name to Communication Services Portfolio and modify its investment policies to reflect the communication services sector. The Board, including the Independent Trustees, has approved these changes, and recommends that shareholders approve the proposed change to the fund’s fundamental concentration policy.
General Questions on the Proxy
Has the funds’ Board of Trustees approved the proposal?
The proposal has been carefully reviewed by the Board of Trustees. The Trustees, most of whom are not affiliated with Fidelity, are responsible for protecting your interests as a shareholder. The Trustees believe that the proposal to modify the fundamental concentration policy for the fund is in the best interests of shareholders. They recommend that you voteFOR this proposal.
Who is D.F. King & Co., Inc.?
D.F. King is a third party proxy vendor that Fidelity hires to call shareholders and record proxy votes. In order to hold a shareholder meeting, quorum must be reached. If quorum is not attained, the meeting may adjourn to a future date. Fidelity attempts to reach shareholders via multiple mailings to remind them to cast their vote. As the meeting approaches, phone calls may be made to clients who have not yet voted their shares so that the shareholder meeting does not have to be postponed.
Voting your shares immediately will help minimize additional solicitation expenses and prevent the need to make a call to you to solicit your vote.
How many votes am I entitled to cast?
As a shareholder, you are entitled to one vote for each dollar of net asset value you own of each of the funds on the record date. The record date is August 20, 2018.
How do I vote my shares?
You can vote your shares by completing and signing the enclosed proxy card(s) or voting instruction form(s) and mailing them in the enclosed postage-paid envelope. If you need any assistance, or have any questions regarding the proposals or how to vote your shares, please call Fidelity at 1-877-208-0098.
How do I sign the proxy card?
| Individual Accounts: | Shareholders should sign exactly as their names appear on the account registration shown on the card or form. | |
| Joint Accounts: | Either owner may sign, but the name of the person signing should conform exactly to a name shown in the registration. | |
| All Other Accounts: | The person signing must indicate his or her capacity. For example, a trustee for a trust or other entity should sign, “Ann B. Collins, Trustee.” | |
 | VT18-PXL-0818 1.9890499.100 |
Important Notice Regarding the Availability of
Proxy Materials for the
Shareholder Meeting to be held on October 17, 2018
The Letter to Shareholders, Notice of Meeting, and
Proxy Statement are available at www.proxyvote.com/proxy
TELECOMMUNICATIONS PORTFOLIO
A FUND OF VARIABLE INSURANCE PRODUCTS FUND IV
245 Summer Street, Boston, Massachusetts 02210
1-877-208-0098
NOTICE OF SPECIAL MEETING OF SHAREHOLDERS
To the Shareholders of Telecommunications Portfolio:
NOTICE IS HEREBY GIVEN that a Special Meeting of Shareholders (the Meeting) of Telecommunications Portfolio (the fund), a series of Variable Insurance Products Fund IV (the trust) will be held at an office of the trust, 245 Summer Street, Boston, Massachusetts 02210 (at the corner of Summer Street and Dorchester Avenue, next to Boston’s South Station) on October 17, 2018, at 8:30 a.m. Eastern Time (ET).
The purpose of the Meeting is to consider and act upon the following proposal and to transact such other business as may properly come before the Meeting or any adjournments thereof.
| 1. | To modify the fund’s fundamental concentration policy. |
The Board of Trustees has fixed the close of business on August 20, 2018, as the record date for the determination of the shareholders of the fund entitled to notice of, and to vote at, such Meeting and any adjournments thereof.
By order of the Board of Trustees,
MARC R. BRYANT
Secretary
August 20, 2018
Your vote is important – please vote your shares promptly.
Variable product owners, who have a voting interest in variable accounts holding shares of the trust, are invited to attend the Meeting in person. Admission to the Meeting will be on a first-come, first-served basis and will require picture identification. Variable product owners arriving after the start of the Meeting may be denied entry. Cameras, cell phones, recording equipment and other electronic devices will not be permitted. Fidelity reserves the right to inspect any persons or items prior to admission to the Meeting.
Any variable product owner who does not expect to attend the Meeting is urged to vote by indicating voting instructions on the enclosed proxy card or voting instruction form, dating and signing it, and returning it in the envelope provided, which needs no postage if mailed in the United States. In order to avoid unnecessary expense, we ask your cooperation in responding promptly, no matter how large or small your voting interest may be. If you wish to wait until the Meeting to vote your shares, you will need to request a paper ballot or voting instruction form at the Meeting in order to do so.
INSTRUCTIONS FOR EXECUTING PROXY CARD
OR VOTING INSTRUCTION FORM
The following general rules for executing proxy cards or voting instruction forms may be of assistance to you and help avoid the time and expense involved in validating your vote if you fail to execute your proxy card or voting instruction form properly.
| 1. | Individual Accounts: Your name should be signed exactly as it appears in the registration on the proxy card or voting instruction form. |
| 2. | Joint Accounts: Either party may sign, but the name of the party signing should conform exactly to a name shown in the registration. |
| 3. | All other accounts should show the capacity of the individual signing. This can be shown either in the form of the account registration itself or by the individual executing the proxy card or voting instruction form. For example: |
REGISTRATION | VALID SIGNATURE | |||||||
| A. | 1) | ABC Corp. | John Smith, Treasurer | |||||
| 2) | ABC Corp. c/o John Smith, Treasurer | John Smith, Treasurer | ||||||
| B. | 1) | ABC Corp. Profit Sharing Plan | Ann B. Collins, Trustee | |||||
| 2) | ABC Trust | Ann B. Collins, Trustee | ||||||
| 3) | Ann B. Collins, Trustee u/t/d 12/28/78 | Ann B. Collins, Trustee | ||||||
| C. | 1) | Anthony B. Craft, Cust. f/b/o Anthony B. Craft, Jr. UGMA | Anthony B. Craft | |||||
PROXY STATEMENT
SPECIAL MEETING OF SHAREHOLDERS OF
VARIABLE INSURANCE PRODUCTS FUND IV:
TELECOMMUNICATIONS PORTFOLIO
TO BE HELD ON OCTOBER 17, 2018
This Proxy Statement is furnished in connection with a solicitation of proxies made by, and on behalf of, the Board of Trustees of Variable Insurance Products Fund IV (the trust) to be used at the Special Meeting of Shareholders of Telecommunications Portfolio (the fund) and at any adjournments thereof (the Meeting), to be held on October 17, 2018 at 8:30 a.m. (ET) at 245 Summer Street, Boston, Massachusetts 02210, an office of the trust.
The purpose of the Meeting is set forth in the accompanying Notice. The solicitation is being made primarily by the mailing of this Proxy Statement and the accompanying proxy card or voting instruction form on or about August 20, 2018. Supplementary solicitations may be made by mail, telephone, facsimile, electronic means or by personal interview by representatives of the trust.
The expenses in connection with preparing this Proxy Statement, its enclosures, and all solicitations, and the expenses associated with reimbursing insurance companies and others for their reasonable expenses in forwarding solicitation material to the beneficial owners of shares, will be paid by each class of the fund, provided that the expenses do not exceed each class’s existing voluntary expense caps of 1.08% for Investor Class of the fund and 1.00% for Initial Class of the fund.
Expenses exceeding each class’s voluntary expense cap will be paid by Fidelity SelectCo, LLC (SelectCo).
The principal business address of SelectCo, the fund’s manager, is 6501 S Fiddler’s Green Circle, STE 600, Greenwood Village, Denver, Colorado 80111. The principal business address of FMR Co., Inc.,sub-adviser to the fund, is 245 Summer Street, Boston, Massachusetts 02210. The principal business address of Fidelity Distributors Corporation, the fund’s principal underwriter and distribution agent, is 900 Salem Street, Smithfield, Rhode Island 02917. FMR Investment Management (UK) Limited, located at 1 St. Martin’s Le Grand, London, EC1A 4AS, United Kingdom; Fidelity Management & Research (Hong Kong) Limited, located at Floor 19, 41 Connaught Road Central, Hong Kong; and Fidelity Management & Research (Japan) Limited, located at Kamiyacho Prime Place,1-17,Toranomon-4-Chome,Minato-ku, Tokyo, Japan, are alsosub-advisers to the fund.
If the enclosed proxy or voting instruction form is executed and returned, that vote may nevertheless be revoked at any time prior to its use by written notification received by the trust, by the execution of a later-dated proxy or voting instruction form, or by attending the Meeting and voting in person.
All proxies solicited by the Board of Trustees that are properly executed and received by the Secretary prior to the Meeting, and are not revoked, will be voted at the Meeting.
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Shares represented by such proxies will be voted in accordance with the instructions thereon. If no specification is made on a properly executed proxy or voting instruction form, it will be voted FOR the matters specified on the proxy or voting instruction form. All shares that are voted and votes to ABSTAIN will be counted towards establishing a quorum. Most insurance company variable accounts will vote all of their shares in the same proportion as the voting instructions actually received from variable product owners. See discussion below.
One-third of the fund’s outstanding voting securities entitled to vote constitutes a quorum for the transaction of business at the Meeting. If a quorum is not present at the Meeting, or if a quorum is present at the Meeting but sufficient votes to approve the proposed item are not received, or if other matters arise requiring shareholder attention, the persons named as proxy agents may propose one or more adjournments of the Meeting to permit further solicitation of proxies. Any such adjournment will require the affirmative vote of a majority of those shares present at the Meeting or represented by proxy. When voting on a proposed adjournment, the persons named as proxy agents will vote FOR the proposed adjournment all shares that they are entitled to vote with respect to the item, unless directed to vote AGAINST the item, in which case such shares will be voted AGAINST the proposed adjournment with respect to that item. A shareholder vote may be taken on the item in this Proxy Statement prior to such adjournment if sufficient votes have been received and it is otherwise appropriate.
Shares of each class of the fund issued and outstanding as of June 30, 2018 are indicated in the following table:
Number of | ||||
| VIP Telecommunications Portfolio: Initial Class | 416,839 | |||
| VIP Telecommunications Portfolio: Investor Class | 2,872,333 | |||
As of June 30, 2018, the Trustees, Members of the Advisory Board, (if any), and officers of the trust owned, in the aggregate, less than 1% of each class of the fund’s total outstanding shares.
To the knowledge of the trust, substantial (5% or more) record and/or beneficial ownership of the fund or class on June 30, 2018 was as follows:
Class Name | Owner Name | City | State | Ownership % | ||||
| VIP TELECOMMUNICATIONS PORTFOLIO – INITIAL CLASS | FIDELITY INVESTMENTS LIFE INS. CO. | BOSTON | MA | 85.33 | ||||
| VIP TELECOMMUNICATIONS PORTFOLIO – INITIAL CLASS | EMPIRE FIDELITY INVESTMENTS LIFE INS. CO. | BOSTON | MA | 14.67 | ||||
| VIP TELECOMMUNICATIONS PORTFOLIO – INVESTOR CLASS | FIDELITY INVESTMENTS LIFE INS. CO. | BOSTON | RI | 93.96 |
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Class Name | Owner Name | City | State | Ownership % | ||||
| VIP TELECOMMUNICATIONS PORTFOLIO – INVESTOR CLASS | EMPIRE FIDELITY INVESTMENTS LIFE INS. CO. | BOSTON | MA | 6.04 |
To the knowledge of the trust, no other shareholder owned of record or beneficially more than 5% of the outstanding shares of each class of the fund on that date.
A shareholder owning of record or beneficially more than 25% of a fund’s outstanding shares may be considered a controlling person. That shareholder’s vote could have a more significant effect on matters presented at a shareholders’ meeting than votes of other shareholders.
FMR has advised the trust that certain shares are registered to FMR or an FMR affiliate. To the extent that FMR and/or another entity or entities of which FMR LLC is the ultimate parent has discretion to vote, these shares will be voted at the Meeting FOR each proposal. Otherwise, these shares will be voted in accordance with the plan or agreement governing the shares. Although the terms of the plans and agreements vary, generally the shares must be voted either (i) in accordance with instructions received from shareholders or (ii) in accordance with instructions received from shareholders and, for shareholders who do not vote, in the same proportion as certain other shareholders have voted.
Shareholders of record at the close of business on August 20, 2018 will be entitled to vote at the Meeting. Each such shareholder will be entitled to one vote for each dollar of net asset value held on that date, with fractional dollar amounts entitled to a proportional fractional vote.
Shares of the trust are currently sold only to life insurance companies. Each company holds its shares in a separate account (the Variable Account), which serves as the funding vehicle for its variable insurance products. In accordance with its view of present applicable law, each company will vote its shares held in its respective Variable Account at the Meeting in accordance with instructions received from persons having a voting interest in the Variable Account. Those persons who have a voting interest at the close of business on August 20, 2018, will be entitled to submit instructions to their company. For ease of reference, persons with a voting interest in a Variable Account may be referred to as “shareholders” in this Proxy Statement.
Fund shares held in a Variable Account for which no timely instructions are received will be voted by most companies in proportion to the voting instructions that are received with respect to all contracts participating in the Variable Account. This means that a small number of votes could determine the outcome.
Accordingly, if you wish to vote, you should complete the enclosed proxy card or voting instruction form as a participant in the Variable Account. All forms which are properly executed and received prior to the Meeting, and which are not revoked, will be voted as described above. If the enclosed voting instruction form is executed and
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returned, it may nevertheless be revoked at any time prior to the Meeting by written notification received by your company, by execution of a later-dated form received by your company, or by attending the Meeting and voting in person.
For a free copy of the fund’s annual report for the fiscal year ended December 31, 2017, call1-877-208-0098, visit Fidelity’s web site at institutional.fidelity.com, or write to Fidelity Distributors Corporation at 900 Salem Street, Smithfield, Rhode Island 02917.
VOTE REQUIRED: Approval of the proposal requires the affirmative vote of a “majority of the outstanding voting securities” of the fund. Under the Investment Company Act of 1940 (1940 Act), the vote of a “majority of the outstanding voting securities” means the affirmative vote of the lesser of (a) 67% or more of the voting securities present at the Meeting or represented by proxy if the holders of more than 50% of the outstanding voting securities are present or represented by proxy or (b) more than 50% of the outstanding voting securities. Votes to ABSTAIN will have the same effect as votes cast AGAINST the proposal.
PROPOSAL
TO MODIFY THE FUND’S FUNDAMENTAL CONCENTRATION POLICY
The purpose of this proposal is to modify the industry concentration policy for the fund to align it with changes being made to the Global Industry Classification Standard (GICS), a standardized industry classification system for equities developed jointly by MSCI and Standard & Poor’s (S&P). If the proposal passes, the fund will be renamed Communication Services Portfolio and its investment policies will be expanded to include companies meeting the description of the communication services sector.
The GICS is a four-level system of sectors, industry groups, industries andsub-industries, which is periodically reviewed and updated by MSCI and S&P, independent third-party research firms, to ensure the classification structure continues to represent the global equity markets.
MSCI and S&P recently announced changes to the GICS. Effective October 1, 2018, the telecommunication services sector will be renamed communication services and the media industry group will become part of the new communication services sector. The new communication services sector will includesub-industries from telecommunications, consumer discretionary and technology and will better reflect the marketplace evolution in the creation and delivery of media content and the convergence of communication and media companies. The GICS changes will be implemented in MSCI’s equity indexes on December 1, 2018.
The fund is designed to offer targeted exposure to the stocks of companies in the telecommunications sector. As a result of the changes to the GICS, the telecommunications sector will be expanded to a broadened and renamed communication services sector.
The Board of Trustees recommends repositioning the fund to align with the new communication services sector. Modifying the concentration policy, as proposed, is an
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essential step in aligning the fund’s other investment polices under the communication services sector and renaming the fund. The 1940 Act requires funds to state a policy regarding concentration of investments in a particular industry, and to make the policy fundamental (changeable only by shareholder vote). The SEC has taken the position that a fund that invests more than 25% of its total assets in a particular industry is concentrating its investments.
The fund’s current fundamental concentration policy concerning the concentration of investments in a single industry states: “The fund may not purchase the securities of any issuer if, as a result, less than 25% of the fund’s total assets would be invested in the securities of issuers principally engaged in the telecommunications industries.”
The Board, including the Independent Trustees, has approved, and recommends that shareholders vote to modify this policy to state: “The fund may not purchase the securities of any issuer if, as a result, less than 25% of the fund’s total assets would be invested in the securities of issuers principally engaged in the [telecommunications]communication services industries.” (proposed additional language isunderlined, deleted language is [bracketed]).
The fund has a policy of normally investing at least 80% of its assets in securities of companies principally engaged in the development, manufacture, or sale of communications services or communications equipment. If the proposal is approved, the fund’s investment policies will be modified to reflect the fund’s investments in the communication services sector. Accordingly, if the proposal is approved, the fund will normally invest at least 80% of its assets in securities of companies principally engaged in the development, production, or distribution of communication services.
Conclusion. The Board of Trustees has concluded that the proposal will benefit the fund and its shareholders.The Trustees recommend voting FOR the proposal. If the proposal is approved by shareholders, the proposed change will take effect on December 1, 2018 or on the first day of the month following shareholder approval if the meeting is adjourned. If the proposal is not approved by the fund’s shareholders, the existing concentration policy, fund name and other related policies will remain in effect for the fund.
OTHER BUSINESS
The Board knows of no other business to be brought before the Meeting. However, if any other matters properly come before the Meeting, it is the intention that proxies that do not contain specific instructions to the contrary will be voted on such matters in accordance with the judgment of the persons therein designated.
SUBMISSION OF CERTAIN SHAREHOLDER PROPOSALS
The trust does not hold annual shareholder meetings. Shareholders wishing to submit proposals for inclusion in a proxy statement for a subsequent shareholder meeting should send their written proposals to the Secretary of the funds, attention “Fund Shareholder Meetings,” 245 Summer Street, Mailzone V10A, Boston, Massachusetts 02210. Proposals must be received a reasonable time before a fund begins to print and send its
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proxy materials to be considered for inclusion in the proxy materials for the meeting. Timely submission of a proposal does not, however, necessarily mean the proposal will be included. With respect to proposals submitted on an untimely basis and presented at a shareholder meeting, persons named as proxy agents will vote in their discretion.
NOTICE TO INSURANCE COMPANIES
Please advise the trust, in care of client services at1-877-208-0098, whether other persons are beneficial owners of shares for which proxies are being solicited and, if so, the number of copies of the Proxy Statement and Annual Reports you wish to receive in order to supply copies to the variable contract owners of the respective shares.
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Fidelity and Fidelity Investments & Pyramid Design are registered service marks of FMR LLC.© 2018 FMR LLC. All rights reserved.
Any third-party marks that may appear above are the marks of their respective owners.
The term “VIP” as used in this document refers to Fidelity® Variable Insurance Products.
| 1.9890498.100 | VT18-PXS-0818 | |||
Form of Proxy Card: Telecommunications Portfolio
| Fidelity Investments® (logo) | Vote this proxy card TODAY! | |||||||
| Your prompt response will save the expense | ||||||||
PO Box 673023 Dallas, TX 75267-3023 | of additional mailings. | |||||||
| Vote by Mail! | ||||||||
(right pointing arrow prints here) |
[Control Number prints here in a box] | MAIL: | Return the signed proxy card in the enclosed envelope. | |||||
[TRUST NAME: FUND NAME Prints Here] [Client Code prints here]
PROXY SOLICITED BY THE TRUSTEES
The undersigned, revoking previous proxies, hereby appoint(s) James C. Curvey, Michael G. Palek, and Garnett A. Smith, or any one or more of them, attorneys, with full power of substitution, to vote all shares of the fund as indicated on this proxy card which the undersigned is entitled to vote at the Special Meeting of Shareholders of the fund to be held at 245 Summer Street, Boston, MA 02210, on October 17, 2018 at 8:30 a.m. Eastern Time and at any adjournments thereof. All powers may be exercised by a majority of said proxy holders or substitutes voting or acting or, if only one votes and acts, then by that one. This Proxy shall be voted on the proposal described in the Proxy Statement as specified on the reverse side. Receipt of the Notice of the Meeting and the accompanying Proxy Statement is hereby acknowledged.
[Shareholder’s name and address prints here] | CONTINUED AND TO BE SIGNED ON REVERSE SIDE | |||||
| [Card Code prints here] | ||||||
Please refer to the Proxy Statement discussion of this matter.
IF THE PROXY IS SIGNED, SUBMITTED, AND NO SPECIFICATION IS MADE, THE PROXY SHALL BE VOTEDFOR THE PROPOSAL.
As to any other matter, said attorneys shall vote in accordance with their best judgment.
THE BOARD OF TRUSTEES RECOMMENDS A VOTEFOR THE FOLLOWING:
| FOR | AGAINST | ABSTAIN | ||||||||||
| 1. | To modify the fund’s fundamental concentration policy. | ( ) | ( ) | ( ) | ||||||||
PLEASE SIGN, DATE, AND RETURN PROMPTLY IN ENCLOSED ENVELOPE.
Signature(s) (Title(s), if applicable) (Sign in the Box)
NOTE: Please sign exactly as your name appears on this Proxy. When signing in a fiduciary capacity, such as executor, administrator, trustee, attorney, guardian, etc., please so indicate. Corporate or partnership proxies should be signed by an authorized person indicating the person’s title.
| Signature (PLEASE SIGN WITHIN BOX) | Date | [Card Code prints here] | Signature (Joint Owners) | Date |
Proxy Voting Q&A posted on fidelity.com
Frequently Asked Questions
| • | What is Proxy Voting? |
| • | When will I receive the information I need to vote? |
| • | How can I submit a proxy vote? |
| • | I consented for eDelivery of proxy materials, is it possible to receive hard copy paper materials instead? |
| • | I used to enter a PIN when voting proxy, why is this now no longer required? |
| • | I voted and I would like to change my vote, is this possible? |
| Q: | What is Proxy Voting? |
| A: | Companies regularly hold shareholder meetings to present and discuss important management decisions that may impact shareholders. Mutual funds may also hold special meetings of shareholders to seek approval of changes to fund services or policies that require shareholder approval. As a shareholder, you are entitled to vote on these important matters. You could, if you wanted, attend the shareholder meeting in person to cast your votes, or you could cast a proxy vote, which allows you to cast your vote through the mail, over the telephone, or online. This way, your vote can be counted without you having to attend the meeting in person. |
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| Q: | When will I receive the information I need to vote? |
| A: | A proxy statement, which provides details regarding the meeting and the management and shareholder proposals, if any, that will be voted on at the meeting, is provided to shareholders before the meeting is held. The proxy statement may be sent to you via U.S. mail or email, if you have consented to electronic delivery, or you may receive a notice linking you to a website where you can review it online. |
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| Q: | How can I submit a proxy vote? |
| A: | You may submit a proxy vote through U.S. mail, over the telephone, or online, based on the instructions contained in the proxy statement. Votes must be submitted prior to the close of voting in order to be counted. Please vote your shares promptly. Your vote is extremely important, no matter how large or small your holdings may be. |
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| Q: | I consented for eDelivery of proxy materials, is it possible to receive hard copy paper materials instead? |
| A: | By consenting to eDelivery of proxy, you have agreed to online receipt of important proxy materials. To request a written copy of any Fidelity Fund proxy materials via telephone please call877-208-0098. On the voting screen, you may also chose to change your eDelivery preferences for future proxy campaigns. |
Your retirement benefit plan account mail preferences for statements, prospectuses, proxies and other benefit information will apply to your Fidelity BrokerageLink(registered mark) Account. You may change this electronic delivery default for your BrokerageLinkSM account at any time by logging on to NetBenefits and updating your mail preferences. |
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| Q: | I used to enter a PIN when voting proxy, why is this now no longer required? |
| A: | By using Fidelity.com to access the online voting site, a secure transaction with your control number information has been established and the PIN is no longer required to securely complete this transaction. |
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| Q: | I voted and I would like to change my vote, is this possible? |
| A: | Yes, you can vote again using the Voted link in the Action column as long as voting is still open for that holding. The latest vote cast will be recorded and the Last Action Taken date will update. If you do not complete the process ofre-voting, the last vote cast remains on record. |
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Return to Proxy Materials
620855.5.0
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Proxy Voting Q&A posted on institutional.fidelity.com
Learn More
| • | What is Proxy Voting? |
| • | When will I receive the information I need to vote? |
| • | How can I submit a proxy vote? |
| • | I consented for eDelivery of proxy materials, is it possible to receive hard copy paper materials instead? |
| • | I used to enter a control number when voting proxy, why is this now no longer required? |
| • | I voted and I would like to change my vote, is this possible? |
| • | When can I expect to receive proxy materials? |
| Q: | What is Proxy Voting? |
| A: | Mutual Funds may hold special meetings of shareholders to seek approval of changes to fund services or policies that require shareholder approval. As a shareholder, you are entitled to vote on these important matters. You could, if you wanted, attend the shareholder meeting in person to cast your vote, or you could cast a proxy vote, which allows you to cast your vote through the mail, over the telephone, or online. This way, your vote can be counted without you having to attend the meeting in person. |
| Q: | When will I receive the information I need to vote? |
| A: | A proxy statement, which provides details regarding the meeting and the management and shareholder proposals, if any, that will be voted on at the meeting, is provided to shareholders before the meeting is held. The proxy statement may be sent to you via U.S. mail, or email, if you have consented to electronic delivery, or you may receive a notice linking you to a website where you can review it online. |
| Q: | How can I submit a proxy vote? |
| A: | You may submit a proxy vote through U.S. mail, over the telephone, or online, based on the instructions contained in the proxy statement. Votes must be submitted prior to the close of voting in order to be counted. Please vote your shares promptly. Your vote is extremely important, no matter how large or small your holdings may be. |
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| Q: | I consented for eDelivery of proxy materials, is it possible to receive hard copy paper materials instead? |
| A: | By consenting to eDelivery, you have agreed to online receipt of important proxy materials. You can request a written copy of the proxy materials by clicking on “Request copy of shareholder materials,” on the same screen you are prompted to vote your shares. To request a written copy of any Fidelity Advisor Fund or Fidelity Fund proxy material via telephone, please call877-208-0098. If you would like to change your eDelivery preferences for future proxy materials, click here to update your information or change your delivery method.[if shareholder clicks on “click here” a window appears where they can change their edelivery preferences on institutional.fidelity.com.] |
| Q: | I used to enter a control number when voting proxy, why is this now no longer required? |
| A: | By using advisor.fidelity.com to access the online voting site, a secure transaction with your control number information has been established and the control number is no longer required to securely complete this transaction. |
| Q: | I voted and I would like to change my vote, is this possible? |
| A: | Yes, you can vote again using the “Voted” link in the “Action” column as long as voting is still open for that holding. The latest vote cast will be recorded and the “Last Action Taken” date will update. If you do not complete the process ofre-voting, the last vote cast remains on record. |
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