Fidelity Advisor^® Growth Strategies Fund: Investment Approach

• Fidelity Advisor^® Growth Strategies Fund is a diversified domestic equity strategy with a mid-cap growth orientation.
• Our philosophy is anchored in the belief that the market often misjudges either the durability or magnitude of growth, presenting an opportunity to generate alpha (risk-adjusted excess returns).
• Our investment process focuses on building a mosaic around key drivers via fundamental research to help identify when growth expectations are mispriced.
• Through this approach, we attempt to uncover quality companies that exhibit persistent, above-average growth. When purchased at sensible valuations, we believe these stocks can outperform over time.