-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, EirTpEP7BzonYHE7zwd37Svp3xfAz+aorVXoOwRneh/TM4F4F6fdUxrVy2ZKD1ow Wve+6HsSKR2vrGGaz28wTA== 0000744822-08-000015.txt : 20080530 0000744822-08-000015.hdr.sgml : 20080530 20080530102651 ACCESSION NUMBER: 0000744822-08-000015 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20080530 DATE AS OF CHANGE: 20080530 EFFECTIVENESS DATE: 20080530 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIDELITY INVESTMENT TRUST CENTRAL INDEX KEY: 0000744822 IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-90649 FILM NUMBER: 08868716 BUSINESS ADDRESS: STREET 1: 82 DEVONSHIRE ST CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6174391269 MAIL ADDRESS: STREET 1: 82 DEVONSHIRE STREET STREET 2: MAILZONE ZH-1 CITY: BOSTON STATE: MA ZIP: 02109 FORMER COMPANY: FORMER CONFORMED NAME: FIDELITY OVERSEAS FUND DATE OF NAME CHANGE: 19861228

0000744822 S000007094 Fidelity Europe Fund

C000019413 Fidelity Europe Fund FIEUX

0000744822 S000007096 Fidelity Japan Fund

C000019415 Fidelity Japan Fund FJPNX

0000744822 S000007097 Fidelity Japan Smaller Companies Fund

C000019416 Fidelity Japan Smaller Companies Fund FJSCX

0000744822 S000007098 Fidelity Latin America Fund

C000019417 Fidelity Latin America Fund FLATX

0000744822 S000007099 Fidelity Nordic Fund

C000019418 Fidelity Nordic Fund FNORX

0000744822 S000007101 Fidelity Pacific Basin Fund

C000019420 Fidelity Pacific Basin Fund FPBFX

0000744822 S000007102 Fidelity Southeast Asia Fund

C000019421 Fidelity Southeast Asia Fund FSEAX

0000744822 S000007104 Fidelity International Small Cap Fund

C000019423 Fidelity International Small Cap Fund FISMX

C000019424 Fidelity Advisor International Small Cap Fund: Class A FIASX

C000019425 Fidelity Advisor International Small Cap Fund: Class B FIBSX

C000019426 Fidelity Advisor International Small Cap Fund: Class C FICSX

C000019427 Fidelity Advisor International Small Cap Fund: Class T FTISX

C000019428 Fidelity Advisor International Small Cap Fund: Institutional Class FIXIX

0000744822 S000007107 Fidelity Canada Fund

C000019436 Fidelity Canada Fund FICDX

0000744822 S000007108 Fidelity China Region Fund

C000019437 Fidelity China Region Fund FHKCX

0000744822 S000007110 Fidelity Emerging Markets Fund

C000019439 Fidelity Emerging Markets Fund FEMKX

0000744822 S000007111 Fidelity Europe Capital Appreciation Fund

C000019440 Fidelity Europe Capital Appreciation Fund FECAX

497 1 main.htm

Supplement to the

Fidelity's Targeted International Equity Funds^®

Fidelity^® Canada Fund, Fidelity China Region Fund, Fidelity Emerging Markets Fund, Fidelity Europe Fund,
Fidelity Europe Capital Appreciation Fund, Fidelity Japan Fund, Fidelity Japan Smaller Companies Fund,
Fidelity Latin America Fund, Fidelity Nordic Fund, Fidelity Pacific Basin Fund, and Fidelity Southeast Asia Fund

Funds of Fidelity Investment Trust

STATEMENT OF ADDITIONAL INFORMATION

December 29, 2007

The following information replaces similar information for Allan Liu found in the "Management Contracts" section beginning on page 41.

Jess Tan is the portfolio manager of Southeast Asia Fund and receives compensation for her services. As of April 30, 2008, portfolio manager compensation generally consists of a fixed base salary determined periodically (typically annually), a bonus, in certain cases, participation in several types of equity-based compensation plans, and, if applicable, relocation plan benefits. A portion of the portfolio manager's compensation may be deferred based on criteria established by Fidelity International Limited (FIL), an affiliate of FMR, or at the election of the portfolio manager.

The portfolio manager's base salary is determined by level of responsibility and tenure at FIL or its affiliates. The primary components of Ms. Tan's bonus are based on (i) the pre-tax investment performance of the portfolio manager's fund(s) and account(s) measured against a benchmark index or within a defined peer group assigned to each fund or account, and (ii) the investment performance of a broad range of other equity funds and accounts managed by FIL and its affiliates. The pre-tax investment performance of the portfolio manager's fund(s) and account(s) is weighted according to her tenure on those fund(s) and account(s) and the average asset size of those fund(s) and account(s) over her tenure. Each component is calculated separately over the portfolio manager's tenure over a measurement period that initially is contemporaneous with her tenure, but that eventually encompasses rolling periods of up to five years for the comparison to a benchmark index or a peer group. A smaller, subjective component of the portfolio manager's bonus is based on the portfolio manager's overall contribution to management of FIL. The portion of the portfolio manager's bonus that is linked to the investment performance of Southeast Asia Fund is based on the fund's pre-tax investment performance measured against the MSCI All Country Far East ex-Japan Index (net MA tax). The portfolio manager also is compensated under equity-based compensation plans linked to increases or decreases in the net asset value of the stock of FIL. If requested to relocate their primary residence, portfolio managers also may be eligible to receive benefits, such as home sale assistance and payment of certain moving expenses, under relocation plans for most full-time employees of FIL and its affiliates.

The portfolio manager's compensation plan may give rise to potential conflicts of interest. Although investors in the fund may invest through either tax-deferred accounts or taxable accounts, the portfolio manager's compensation is linked to the pre-tax performance of the fund, rather than its after-tax performance. The portfolio manager's base pay tends to increase with additional and more complex responsibilities that include increased assets under management and a portion of the bonus relates to marketing efforts, which together indirectly link compensation to sales. When a portfolio manager takes over a fund or an account, the time period over which performance is measured may be adjusted to provide a transition period in which to assess the portfolio. The management of multiple funds and accounts (including proprietary accounts) may give rise to potential conflicts of interest if the funds and accounts have different objectives, benchmarks, time horizons, and fees as the portfolio manager must allocate his time and investment ideas across multiple funds and accounts. In addition, a fund's trade allocation policies and procedures may give rise to conflicts of interest if the fund's orders do not get fully executed due to being aggregated with those of other accounts managed by FMR or an affiliate. The portfolio manager may execute transactions for another fund or account that may adversely impact the value of securities held by a fund. Securities selected for other funds or accounts may outperform the securities selected for the fund. Portfolio managers may be permitted to invest in the funds they manage, even if a fund is closed to new investors. Trading in personal accounts, which may give rise to potential conflicts of interest, is restricted by a fund's Code of Ethics.

The following table provides information relating to other accounts managed by Ms. Tan as of April 30, 2008:

	Registered Investment Companies*	Other Pooled Investment Vehicles	Other Accounts
Number of Accounts Managed	1	none	2
Number of Accounts Managed with Performance-Based Advisory Fees	1	none	none
Assets Managed (in millions)	$ 3,999	none	$ 329
Assets Managed with Performance-Based Advisory Fees (in millions)	$ 3,999	none	none

* Includes Southeast Asia Fund ($3,999 (in millions) assets managed with performance-based advisory fees).

As of April 30, 2008, the dollar range of shares of Southeast Asia Fund beneficially owned by Ms. Tan was none.

TIFB-08-01 May 30, 2008
1.467593.134

Supplement to the

Fidelity^® International Small Cap Fund

A Fund of Fidelity Investment Trust

STATEMENT OF ADDITIONAL INFORMATION

December 29, 2007

Ben Paton no longer serves as co-manager of the fund. The following information replaces the information for Ben Paton found in the "Management Contract" section beginning on page 31.

Colin Stone is a co-manager of International Small Cap; he manages a separate portion of the fund's assets and receives compensation for his services as described below. As of April 30, 2008, portfolio manager compensation generally consists of a fixed base salary determined periodically (typically annually), a bonus, in certain cases, participation in several types of equity-based compensation plans, and, if applicable, relocation plan benefits. A portion of the portfolio manager's compensation may be deferred based on criteria established by Fidelity International Limited (FIL), an affiliate of FMR, or at the election of the portfolio manager.

The portfolio manager's base salary is determined by level of responsibility and tenure at FIL or its affiliates. The primary components of the portfolio manager's bonus are based on (i) the pre-tax investment performance of the portfolio manager's fund(s) and account(s) measured against a benchmark index and within a defined peer group assigned to each fund or account, if applicable, and (ii) the investment performance of a broad range of other equity funds and accounts managed by FIL and its affiliates. The pre-tax investment performance of the portfolio manager's fund(s) and account(s) is weighted according to his tenure on those fund(s) and account(s) and the average asset size of those fund(s) and account(s) over his tenure. Each component is calculated separately over the portfolio manager's tenure on those fund(s) and account(s) over a measurement period that initially is contemporaneous with his tenure, but that eventually encompasses rolling periods of up to five years for the comparison to a benchmark index or a peer group. A smaller, subjective component of the portfolio manager's bonus is based on the portfolio manager's overall contribution to management of FIL. The portion of Mr. Stone's bonus that is linked to the investment performance of International Small Cap is based on the pre-tax investment performance of the portion of the fund's assets he manages measured against the MSCI Europe Small Cap Index. The portfolio manager also is compensated under equity-based compensation plans linked to increases or decreases in the net asset value of the stock of FIL. If requested to relocate their primary residence, portfolio managers also may be eligible to receive benefits, such as home sale assistance and payment of certain moving expenses, under relocation plans for most full-time employees of FIL and its affiliates.

The following table provides information relating to other accounts managed by Mr. Stone as of April 30, 2008:

	Registered Investment Companies	Other Pooled Investment Vehicles*	Other Accounts
Number of Accounts Managed	none	1	10
Number of Accounts Managed with Performance-Based Advisory Fees	none	none	none
Assets Managed (in millions)	none	$ 683	$ 4,034
Assets Managed with Performance-Based Advisory Fees (in millions)	none	none	none

* Includes assets of International Small Cap managed by Mr. Stone ($683 (in millions) assets managed with performance-based advisory fees).

As of April 30, 2008, the dollar range of shares of International Small Cap beneficially owned by Mr. Stone was none.

ISCB-08-01 May 30, 2008
1.782429.107

Supplement to the

Fidelity Advisor International Small Cap Fund

Class A, Class T, Class B, Class C, and Institutional Class

Classes of Fidelity International Small Cap Fund

A Fund of Fidelity Investment Trust

STATEMENT OF ADDITIONAL INFORMATION

December 29, 2007

Ben Paton no longer serves as co-manager of the fund. The following information replaces the information for Ben Paton found in the "Management Contract" section beginning on page 31.

AISC/AISCIB-08-01 May 30, 2008
1.789474.105

The following table provides information relating to other accounts managed by Mr. Stone as of April 30, 2008:

	Registered Investment Companies	Other Pooled Investment Vehicles*	Other Accounts
Number of Accounts Managed	none	1	10
Number of Accounts Managed with Performance-Based Advisory Fees	none	none	none
Assets Managed (in millions)	none	$ 683	$ 4,034
Assets Managed with Performance-Based Advisory Fees (in millions)	none	none	none

* Includes assets of International Small Cap managed by Mr. Stone ($683 (in millions) assets managed with performance-based advisory fees).

As of April 30, 2008, the dollar range of shares of International Small Cap beneficially owned by Mr. Stone was none.

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