Fidelity Ginnie Mae (FGMNX)

Fund Fact Sheet 12-31-09 09-30-09 06-30-2009 03-31-2009 Prospectus Fact Sheet Explanation

Fund Summary The investment seeks a high level of current income consistent with prudent investment risk. In seeking current income, it may also consider the potential for capital gain. The fund normally invests at least 80% of the assets in Ginnie Maes and repurchase agreements for Ginnie Maes. FMR may also invest the fund's assets in other U.S. Government securities and instruments related to U.S. Government securities. Certain issuers of U.S. Government securities are sponsored or chartered by Congress but their securities are neither issued nor guaranteed by the U.S. Treasury.

Fund Management William Irving, Lead Manager since 01-Nov-04
Irving is manager of Institutional Short-Intermediate Government Fund, which he has managed since April 2008. He also manages other Fidelity funds. Since joining Fidelity Investments in 1999, Irving has worked as a quantitative analyst and portfolio manager.