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Strategies & Market Trends : Fidelity Select Sector funds -- Ignore unavailable to you. Want to Upgrade?

To: Larry Dambra who wrote (4815)	10/6/2002 5:18:29 PM
From: MoneyPenny	Respond to of 4916

there is no 3% assessment other than the original load paid. Even after all the decimation of the past 2+ years I still have a 6 figure number that trades at only a 3/4% if I run out in less than 30 days. The fact that the original investment was well under 10K speaks of what can happen when the sectors are played even partially correctly. Nothing has worked for the past year except gold. New money put in pays the 3% load. I imagine FIDO is getting little of that these days. My biggest mistake this year was not selling all FSESX in May but I'm still down less than 5% on that bunch from last fall. Gold is doing well and I might have improved my returns even more if I had listened to Julius 7 or 8 wks. ago. I'm still far ahead in the past 18 months. Understanding the select loads is essential to trading them. Sharon

To: Larry Dambra who wrote (4815)	10/6/2002 6:58:55 PM
From: Julius Wong	Read Replies (1) \| Respond to of 4916

Fidelity waives the 3% fee on some retirement accounts. However, there is the 0.75% charge for exchanges in less than 30 days. The 3% fee is charges on most other accounts. This fee is charged only once if the account remains in the Select group, which also includes a money market fund, FSLXX (#85). Julius

To: Larry Dambra who wrote (4815)	10/7/2002 12:15:22 AM
From: Angler	Respond to of 4916

The 3% load in Fidelity sector funds and some others like FLPSX are one time loads IF one exchanges from it into another 3% load fund (like the above). The 3% load can even be carried into a no load fund in the family without loss and is recoverable without cost if one wants to again invest in a sector fund starting from scratch. But in that case you must remember where you put that 3% load portion in other non load funds like feqix or fdvlx to retrieve it later, but if you dumped it into a Select Money Market fund like fslxx you can just continue on like nothing happened. The only penalty paid is as Julius mentioned 3/4% on trades of less than 30 days or in the case of fresx 90 days. Pay attention to the particulars in the foot notes. Some foreign funds must be held for longer time periods to avoid penalties even higher than the sector group. If you keep a sector minimum in an IRA acc't just to reserve additional eligibility to trade more dollars into it, the new money will come in free of load as I understand it? Angler

To: Larry Dambra who wrote (4815)	10/7/2002 8:04:07 PM
From: Julius Wong	Respond to of 4916

Fidelity Redemption Fees 0.75% if sold within 30 days All Select Funds, FEXPX, FFTYX, FMCSX, FTQGX 1.0% if sold within 30 days FDIVX, FGBLX, FIGRX, FIVFX, FOSFX, FSIIX, FWWFX 0.5% if sold within 3 months FFNOX, FSMKX, FSTMX, FTARX 0.75% if sold within 3 months FSEMX, FRESX 1.5% if sold within 3 months FDEGX, FDSCX, FEMKX, FHKCX, FICDX, FJPNX, FJSCX, FLATX, FLPSX, FLVCX, FNORX, FPBFX, FSCRX, FSEAX 1.0% if sold within 6 months FNMIX 1.0% if sold within 9 months FAGIX, SPHIX 1.0% if sold within 2 years FTXMX 2.0% if sold within 3 years FSLCX