Fidelity Destiny Portfolios

Plans will close to all investors on November 16, 2018

No action is required; funds will automatically convert

All Destiny Plan assets will convert to new Fidelity Advisor (FA) fund accounts at the close of business on November 16, 2018. This conversion has several benefits to investors in the Destiny Plans including:

  • • Investors will have access to the full range of services and investment options available to other FA fund shareholders.
  • • As former Destiny Plan account owners, investors can direct future investments into their new FA fund account at net asset value.
  • • With the termination of the Destiny Plans, investors will no longer incur plan-related expenses such as completed plan fees, inactive account fees, and annual custodian and service charges (if applicable).
  • • While investors will continue to incur underlying fund level expenses, those expenses will not increase due to this conversion.
  • • The new FA fund account will be invested in the same fund and share class that their Destiny Plan account currently invests in:
Destiny Plan I Current Investment New FA Account Investment after 11/16/18
O-Plans (Invested in Class O FA Diversified Stock Fund) Class O FA Diversified Stock Fund
N-Plans (Invested in Class A FA Diversified Stock Fund) Class A FA Diversified Stock Fund
Destiny Plan II Current Investment New FA Account Investment after 11/16/18
O-Plans (Invested in Class O FA Capital Development Fund) Class O FA Capital Development Fund
N-Plans (Invested in Class A FA Capital Development Fund) Class A FA Capital Development Fund
Summary of changes
Feature Destiny Plan Investor Fidelity Advisor Fund Investor (after 11/16/18)
Destiny O-Plans / Class O specific
Sales charges Creation and sales charges on initial and subsequent investments1 None
Other plan-related expenses • Annual custodian fee
• Annual service charge
• Plan holder account fees
None
Exchange privileges None To either Class I or Class A of any Fidelity Advisor fund or to any retail Fidelity fund
Accessibility Additional investments only Additional investments only
Destiny N-Plans / Class A specific
Sales charges Creation and sales charges on initial investments1 None: Waived for Fidelity Advisor accounts established with proceeds from former Destiny plan accounts
Other plan-related expenses Plan holder account fees None
Exchange privileges None To any Advisor Class A fund
Accessibility Additional investments only Open to new accounts
Both share classes
Mutual fund expenses As disclosed in each fund's prospectus No change as a result of conversion2
Minimum investment $50 / investment No minimum
IRA custodial fee $10 annually $10 annually
Other transaction-related charges, like wire fees Vary; Please consult Plan documents Vary; Please consult fund documents

For More Information

Please contact the Fidelity Destiny Plan Service team, Monday through Friday 8 a.m.–6 p.m. ET.

View your Fidelity team
Contact Fidelity Destiny Plan Service

800-225-5270

 
 

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