Fidelity Announces Portfolio Manager Appointments

• Lionel Harris has been appointed portfolio manager of Fidelity Small Cap Stock Fund, succeeding Andrew Sassine, and effective November 17, 2011.

  Mr. Harris joined Fidelity in 1995 and has served as sector leader for Fidelity’s small cap equity research team since 2004. Additionally, he has managed Fidelity Small Cap Discovery Fund and has currently been managing Fidelity Small Cap Growth Fund since 2005. Mr. Harris will leave as manager of Small Cap Growth Fund in taking on his new responsibility with Small Cap Stock Fund.

• Patrick Venanzi has been named portfolio manager of Fidelity Small Cap Growth Fund, succeeding Lionel Harris, also effective November 17, 2011.

  Mr. Venanzi joined Fidelity in 2001 and has since managed a number of mid cap and small cap portfolios and will continue manage the health care sector sleeves of several small and mid cap funds.

Fidelity has announced the appointment, effective November 1, 2011, of Nicholas Price as co-portfolio manager of Fidelity International Small Cap Fund, found in the DAP Fidelity Mututal Fund Window. Mr. Price joins existing co-portfolio managers Colin Stone and Dale Nicholls and succeeds Noriko Takahashi and will be responsible for the fund’s investments in Japan, formerly managed by Mr. Takahashi.

Mr. Price joined Fidelity in 1993. He will continue to manage Fidelity Japan Smaller Companies Fund as well as several Japanese portfolios for domestic and international institutional clients.

You will be receiving a letter from the DAP announcing changes to the Directed Account Plan Fidelity  Window Option. This letter has been posted below:

11/4/11 – DAP letter to Participants – Changes to the Directed Account Plan

Here is a general explanation of the change to K Shares in the Fidelity Window Option:

Effective as of the market close (generally 4:00 p.m. Eatern Time) on December 7, 2011, the share class of 27 investment options offered through the DAP will change from their current share class to Class K. As a result of this change, the fund codes, ticker symbols, and expense ratios will change. The new share class will offer you the same investment strategy and risk, but the overall expense will be lower.

You will be receiving a letter from the DAP announcing changes to the Directed Account Fidelity Window Option. This letter is posted below:

11/4/11 – DAP Letter to Participants – Changes to the Directed Account Plan

Here is a general explanation of the new investment options in the Fidelity Fund Window:

Effective as of market close (generally 4:00 p.m. Eastern Time) on December 7, 2011, two new investment options will be added to the investment lineup of the Fidelity Window Option – 1)Fidelity Balanced Fund – Class K and 2)Fidelity Leveraged Company Stock Fund – Class K. The investment description for these funds can be found on the Fidelity Fund Window page in the Knowledge Center section of this web site.

A decision was made by the Board to increase the weight of the large cap funds and reduce the weight of the mid cap funds in the Growth Stock Option. The Growth Stock Option has been rebalanced to increase the allocation of both the T. Rowe Price Growth Stock and Primecap Odyssey Growth funds from 15% to 20%. As a result, both the Turner Mid Cap Growth and Wellington Mid Cap Opportunities fund allocations were reduced from 15% to 10%. The new allocation can be found under the Resources & Planning section of this site.

You should be receiving the Directed Account Plan’s 2010 Summary Annual Report in the mail soon. An online copy is available on your web site  in the Knowledge Center.

On June 1, 2011, the DAP added a new Roth 401(k) option. The addition of the Roth 401(k) offers you more choices that can help you save for, and live in, retirement. We have included a FAQ section on this website for CACU participants  and for Pilots/Beneficiaries to help you make more informed decisions regarding this feature.

Fidelity has announced the appointment of Joseph Tse as portfolio manager of Fidelity China Region Fund, effective January 19, 2010, succeeding Wilson Wong.

The allocation for Brown Capital Mgmt. Small Co. Instl. in the Diversified Small Company Stock Option has been increased from 10% to 15%. The allocation for BGI Small CO. Index has been decreased from 25% to 20%.

The Fidelity Real Estate Income Fund has been added to the Fidelity Funds Options.