Strategy. Normally investing at least 80% of assets in securities of companies that own, operate, or are involved in the distribution, development, and service of infrastructure-related assets. Such companies may include those involved in transportation and supply chain infrastructure, such as airports, highways, railroads, marine ports, and warehouse and logistics facilities; utilities infrastructure, such as electric, water, gas, renewable electricity, and multi-utilities; energy infrastructure, such as oil, gas, and electricity storage and transportation; and communications and digital infrastructure, such as cell towers, data centers and internet infrastructure, and satellites; as well as other infrastructure companies. For purposes of the fund's policy to normally invest at least 80% of its assets in securities of companies principally engaged in the business activity or … Show more… Normally investing at least 80% of assets in securities of companies that own, operate, or are involved in the distribution, development, and service of infrastructure-related assets. Such companies may include those involved in transportation and supply chain infrastructure, such as airports, highways, railroads, marine ports, and warehouse and logistics facilities; utilities infrastructure, such as electric, water, gas, renewable electricity, and multi-utilities; energy infrastructure, such as oil, gas, and electricity storage and transportation; and communications and digital infrastructure, such as cell towers, data centers and internet infrastructure, and satellites; as well as other infrastructure companies. For purposes of the fund's policy to normally invest at least 80% of its assets in securities of companies principally engaged in the business activity or activities identified for the fund, Fidelity may consider a company to be principally engaged in the designated business activity or activities based on: (i) the level of a company's assets, income, sales, or profits that are committed to, derived from, or related to the designated business activity or activities, or (ii) whether a third party has given the company an industry or sector classification consistent with the designated business activity or activities. Whether a company is principally engaged in the designated business activity or activities can be determined under any of these factors. Derivative instruments that provide investment exposure to the investments above or exposure to one or more market risk factors associated with such investments are included in the fund's 80% policy, consistent with the fund's investment policies and limitations with respect to investments in derivatives. Normally investing primarily in equity securities. Using fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments. Investing in either "growth" stocks or "value" stocks or both. Investing in securities of domestic and foreign issuers. Show less