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Charles Akre stepping down

I received a notice from Fidelity that Charles Akre will be stepping down as Portfolio Manager of the Akre Focus Fund (AKREX, AKRIX and AKRSX).
This will be effective at the close of business on December 31. He has managed the fund since its inception in 2009.

John H. Neff and Chris Cerrone will continue to serve as Portfolio Managers.
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