Mutual Fund Summary Prospectus (497k)
12 July 2013 - 12:29AM
Edgar (US Regulatory)
Fidelity
®
Cash Management Funds Government
Fund
Class
/Ticker
Capital Reserves
/FTBXX
Summary Prospectus
June 26, 2013
As Revised July 11, 2013
Fund Summary
Fund
/Class:
Government Fund
/Capital Reserves
Investment Objective
The fund seeks as high a level of current income as is consistent with preservation of capital and liquidity.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy and hold shares of the fund.
|
Shareholder fees
(fees paid directly from your investment)
|
None
|
Annual class operating expenses
(expenses that you pay each year as a % of the value of your investment)
|
Management fee
|
0.25%
|
|
Distribution and/or Service (12b-1) fees
|
0.50%
|
|
Other expenses
A
|
0.25%
|
|
Total annual operating expenses
|
1.00%
|
|
Fee waiver and/or expense reimbursement
B
|
0.05%
|
|
Total annual operating expenses after fee waiver and/or expense reimbursement
|
0.95%
|
A
Based on estimated amounts for the current fiscal year.
B
Fidelity Management & Research Company (FMR) has contractually agreed to reimburse Capital Reserves Class of the fund to the extent that total operating expenses (excluding interest, taxes, brokerage
commissions, extraordinary expenses, and acquired fund fees and expenses, if any), as a percentage of its average net assets, exceed 0.95%. This arrangement will remain in effect through December 31, 2014.
FMR may not terminate this arrangement before the expiration date without the approval of the Board of Trustees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses for
shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest
actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:
|
1 year
|
$ 97
|
|
3 years
|
$ 311
|
Summary Prospectus
Principal Investment Strategies
-
Normally investing at least 80% of assets in U.S. Government securities and repurchase agreements for those securities.
-
Investing in U.S. Government securities issued by entities that are chartered or sponsored by Congress but whose securities are neither issued
nor guaranteed by the U.S. Treasury.
-
Potentially entering into reverse repurchase agreements.
-
Investing in compliance with industry-standard regulatory requirements for money market funds for the quality, maturity, and diversification of
investments.
Principal Investment Risks
-
Interest Rate Changes.
Interest rate increases can cause the price of a money market security to decrease.
-
Issuer-Specific Changes.
A decline in the credit quality of an issuer or a provider of credit support or a maturity-shortening structure for a
security can cause the price of a money market security to decrease.
An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other
government agency. Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing
in the fund.
Performance
Performance history will be available for the fund after the fund has been in operation for one calendar year.
Investment Advisers
Fidelity Management & Research Company (FMR) is the fund's manager. Fidelity Investments Money Management, Inc. (FIMM) and other investment advisers serve as sub-advisers for the fund.
Purchase and Sale of Shares
You may buy or sell Capital Reserves Class shares of the fund through a retirement account or through an investment professional. You may buy
or sell shares in various ways:
|
Internet
www.advisor.fidelity.com
|
|
Phone
To reach a Fidelity representative 1-877-208-0098
|
|
Mail
|
|
Fidelity Investments
P.O. Box 770002
Cincinnati, OH 45277-0081
|
Overnight Express:
Fidelity Investments
100 Crosby Parkway
Covington, KY 41015
|
The price to buy one share of Capital Reserves Class is its net asset value per share (NAV). Your shares will be bought at the NAV next calculated after your order is received in proper form.
The price to sell one share of Capital Reserves Class is its NAV. Your shares will be sold at the NAV next calculated after your order is received in
proper form.
Summary Prospectus
Fund Summary - continued
The fund is open for business each day the New York Stock Exchange (NYSE) is open. Even if the NYSE is closed, the fund will be open for business on those days on which the Federal Reserve Bank of New York (New York Fed) is open, the primary trading markets for the fund's portfolio
instruments are open, and the fund's management believes there is an adequate market to meet purchase and redemption requests.
|
Initial Purchase Minimum
|
$1,000
|
|
For Fidelity Traditional IRA, Roth IRA, Rollover IRA, Simplified Employee Pension-IRA, and Keogh accounts
|
$500
|
The fund may waive or lower purchase minimums in other circumstances.
Tax Information
Distributions you receive from the fund are subject to federal income tax and generally will be taxed as ordinary income or capital gains, and
may also be subject to state or local taxes, unless you are investing through a tax-advantaged retirement account (in which case you may be
taxed later, upon withdrawal of your investment from such account).
Payments to Broker-Dealers and Other Financial Intermediaries
The fund, FMR, Fidelity Distributors Corporation (FDC), and/or their affiliates may pay intermediaries, including banks, broker-dealers, or other service-providers (who may be affiliated with FMR or FDC), for the sale of fund shares and related services. These payments may create a
conflict of interest by influencing your intermediary and your investment professional to recommend the fund over another investment. Ask your
investment professional or visit your intermediary's web site for more information.
Summary Prospectus
Current regulations allow Fidelity to send a single copy of shareholder documents for Fidelity funds, such as prospectuses, annual and semiannual reports, and proxy materials, to certain mutual fund
customers whom we believe are members of the same family who share the same address. We will not send multiple copies of these documents to you and members of your family who share the
same address. Instead, we will send only a single copy of these documents. This will continue for as long as you are a shareholder, unless you notify us otherwise. If at any time you choose to receive
individual copies of any documents, please call 1-877-208-0098. We will begin sending individual copies to you within 30 days of receiving your call.
FDC is a member of the Securities Investor Protection Corporation (SIPC). You may obtain information about SIPC, including the SIPC brochure, by visiting www.sipc.org or calling SIPC at
202-371-8300.
Fidelity and Fidelity Investments & Pyramid Design are registered service marks of FMR LLC. © 2013 FMR LLC. All rights reserved.
The third-party marks appearing above are the marks of their respective owners.
1.964311.101 GVN-C-SUM-0613-01
Fidelity
®
Cash Management Funds Government
Fund
Class
/Ticker
Daily Money
/FLFXX
Summary Prospectus
June 26, 2013
As Revised July 11, 2013
Fund Summary
Fund
/Class:
Government Fund
/Daily Money
Investment Objective
The fund seeks as high a level of current income as is consistent with preservation of capital and liquidity.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy and hold shares of the fund.
|
Shareholder fees
(fees paid directly from your investment)
|
None
|
Annual class operating expenses
(expenses that you pay each year as a % of the value of your investment)
|
Management fee
|
0.25%
|
|
Distribution and/or Service (12b-1) fees
|
0.25%
|
|
Other expenses
A
|
0.25%
|
|
Total annual operating expenses
|
0.75%
|
|
Fee waiver and/or expense reimbursement
B
|
0.05%
|
|
Total annual operating expenses after fee waiver and/or expense reimbursement
|
0.70%
|
A
Based on estimated amounts for the current fiscal year.
B
Fidelity Management & Research Company (FMR) has contractually agreed to reimburse Daily Money Class of the fund to the extent that total operating expenses (excluding interest, taxes, brokerage
commissions, extraordinary expenses, and acquired fund fees and expenses, if any), as a percentage of its average net assets, exceed 0.70%. This arrangement will remain in effect through December 31, 2014.
FMR may not terminate this arrangement before the expiration date without the approval of the Board of Trustees.
This
example
helps compare the cost of investing in the fund with the cost of investing in other funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses
for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in
total expenses if you sell all of your shares at the end of each time period indicated:
|
1 year
|
$ 72
|
|
3 years
|
$ 232
|
Summary Prospectus
Principal Investment Strategies
-
Normally investing at least 80% of assets in U.S. Government securities and repurchase agreements for those securities.
-
Investing in U.S. Government securities issued by entities that are chartered or sponsored by Congress but whose securities are neither issued
nor guaranteed by the U.S. Treasury.
-
Potentially entering into reverse repurchase agreements.
-
Investing in compliance with industry-standard regulatory requirements for money market funds for the quality, maturity, and diversification of
investments.
Principal Investment Risks
-
Interest Rate Changes.
Interest rate increases can cause the price of a money market security to decrease.
-
Issuer-Specific Changes.
A decline in the credit quality of an issuer or a provider of credit support or a maturity-shortening structure for a
security can cause the price of a money market security to decrease.
An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other
government agency. Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing
in the fund.
Performance
Performance history will be available for the fund after the fund has been in operation for one calendar year.
Investment Advisers
Fidelity Management & Research Company (FMR) is the fund's manager. Fidelity Investments Money Management, Inc. (FIMM) and other investment advisers serve as sub-advisers for the fund.
Purchase and Sale of Shares
You may buy or sell Daily Money Class shares of the fund through a retirement account or through an investment professional. You may buy or
sell shares in various ways:
|
Internet
www.advisor.fidelity.com
|
|
Phone
To reach a Fidelity representative 1-877-208-0098
|
|
Mail
|
|
Fidelity Investments
P.O. Box 770002
Cincinnati, OH 45277-0081
|
Overnight Express:
Fidelity Investments
100 Crosby Parkway
Covington, KY 41015
|
The price to buy one share of Daily Money Class is its net asset value per share (NAV). Your shares will be bought at the NAV next calculated
after your order is received in proper form.
The price to sell one share of Daily Money Class is its NAV. Your shares will be sold at the NAV next calculated after your order is received in proper form.
Summary Prospectus
Fund Summary - continued
The fund is open for business each day the New York Stock Exchange (NYSE) is open. Even if the NYSE is closed, the fund will be open for business on those days on which the Federal Reserve Bank of New York (New York Fed) is open, the primary trading markets for the fund's portfolio
instruments are open, and the fund's management believes there is an adequate market to meet purchase and redemption requests.
|
Initial Purchase Minimum
|
$1,000
|
|
For Fidelity Traditional IRA, Roth IRA, Rollover IRA, Simplified Employee Pension-IRA, and Keogh accounts
|
$500
|
The fund may waive or lower purchase minimums in other circumstances.
Tax Information
Distributions you receive from the fund are subject to federal income tax and generally will be taxed as ordinary income or capital gains, and
may also be subject to state or local taxes, unless you are investing through a tax-advantaged retirement account (in which case you may be
taxed later, upon withdrawal of your investment from such account).
Payments to Broker-Dealers and Other Financial Intermediaries
The fund, FMR, Fidelity Distributors Corporation (FDC), and/or their affiliates may pay intermediaries, including banks, broker-dealers, or other service-providers (who may be affiliated with FMR or FDC), for the sale of fund shares and related services. These payments may create a
conflict of interest by influencing your intermediary and your investment professional to recommend the fund over another investment. Ask your
investment professional or visit your intermediary's web site for more information.
Summary Prospectus
Current regulations allow Fidelity to send a single copy of shareholder documents for Fidelity funds, such as prospectuses, annual and semiannual reports, and proxy materials, to certain mutual
fund customers whom we believe are members of the same family who share the same address. We will not send multiple copies of these documents to you and members of your family who
share the same address. Instead, we will send only a single copy of these documents. This will continue for as long as you are a shareholder, unless you notify us otherwise. If at any time you
choose to receive individual copies of any documents, please call 1-877-208-0098. We will begin sending individual copies to you within 30 days of receiving your call.
FDC is a member of the Securities Investor Protection Corporation (SIPC). You may obtain information about SIPC, including the SIPC brochure, by visiting www.sipc.org or calling SIPC at
202-371-8300.
Fidelity and Fidelity Investments & Pyramid Design are registered service marks of FMR LLC. © 2013 FMR LLC. All rights reserved.
The third-party marks appearing above are the marks of their respective owners.
1.964312.101 GVN-D-SUM-0613-01
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