-----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, DI39jxcSzXPG4FQHHu8/+AWRyNEyzQLl8l5jKPaqhfdFqQOb9ThsTpIMq1H72h4x 30salyGITNDUUuxdh1osrA== 0000880195-99-000017.txt : 19990403 0000880195-99-000017.hdr.sgml : 19990403 ACCESSION NUMBER: 0000880195-99-000017 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19990401 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIDELITY INVESTMENT TRUST CENTRAL INDEX KEY: 0000744822 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: SEC FILE NUMBER: 002-90649 FILM NUMBER: 99584837 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 497 1 SUPPLEMENT TO FIDELITY'S BROADLY DIVERSIFIED INTERNATIONAL EQUITY FUNDS DECEMBER 30, 1998 PROSPECTUS The following information replaces similar information found under the heading "Principal Investment Risks" in the "Investment Details" section on page P-11. FOREIGN EXPOSURE. Foreign securities, foreign currencies, and securities issued by U.S. entities with substantial foreign operations can involve additional risks relating to political, economic or regulatory conditions in foreign countries. These risks include fluctuations in foreign currencies; withholding or other taxes; trading, settlement, custodial and other operational risks; and the less stringent investor protection and disclosure standards of some foreign markets. For example, many foreign countries are less prepared than the United States to properly process and calculate information related to dates from and after January 1, 2000, which could result in difficulty pricing foreign investments and failure by foreign issuers to pay timely dividends, interest or principal. All of these factors can make foreign investments, especially those in emerging markets, more volatile and potentially less liquid than U.S. investments. In addition, foreign markets can perform differently than the U.S. market. The following information replaces similar information found under the heading "Policies" in the "Account Features and Policies" section on page P-18. To reduce expenses, only one copy of most financial reports and prospectuses will be mailed to your household, even if you have more than one account in a fund. Call Fidelity at 1-800-544-8544 if you need additional copies of financial reports or prospectuses. SUPPLEMENT TO FIDELITY'S BROADLY DIVERSIFIED INTERNATIONAL EQUITY FUNDS FIDELITY INTERNATIONAL GROWTH & INCOME FUND, FIDELITY DIVERSIFIED INTERNATIONAL FUND, FIDELITY INTERNATIONAL VALUE FUND, FIDELITY OVERSEAS FUND AND FIDELITY WORLDWIDE FUND FUNDS OF FIDELITY INVESTMENT TRUST DECEMBER 30, 1998 STATEMENT OF ADDITIONAL INFORMATION THE FOLLOWING INFORMATION REPLACES SIMILAR INFORMATION FOUND UNDER THE HEADING "EXPOSURE TO FOREIGN MARKETS" IN THE "INVESTMENT POLICIES AND LIMITATIONS" SECTION ON PAGE 8. It is anticipated that in most cases the best available market for foreign securities will be on an exchange or in over-the-counter (OTC) markets located outside of the United States. Foreign stock markets, while growing in volume and sophistication, are generally not as developed as those in the United States, and securities of some foreign issuers may be less liquid and more volatile than securities of comparable U.S. issuers. Foreign security trading, settlement and custodial practices (including those involving securities settlement where fund assets may be released prior to receipt of payment) are often less developed than those in U.S. markets, and may result in increased risk or substantial delays in the event of a failed trade or the insolvency of, or breach of duty by, a foreign broker-dealer, securities depository or foreign subcustodian. For example, many foreign countries are less prepared than the United States to properly process and calculate information related to dates from and after January 1, 2000. As a result, some foreign markets, brokers, banks or securities depositories could experience at least temporary disruptions, which could result in difficulty buying and selling securities in certain foreign markets and pricing foreign investments, and foreign issuers could fail to pay timely dividends, interest or principal. In addition, the costs associated with foreign investments, including withholding taxes, brokerage commissions and custodial costs, are generally higher than with U.S. investments. THE FOLLOWING INFORMATION REPLACES SIMILAR INFORMATION FOUND IN THE "TRUSTEES AND OFFICERS" SECTION ON PAGE 49. *EDWARD C. JOHNSON 3d (68), Trustee and President, is Chairman, Chief Executive Officer and a Director of FMR Corp.; a Director and Chairman of the Board and of the Executive Committee of FMR; Chairman and a Director of Fidelity Investments Money Management, Inc.(1998), Fidelity Management & Research (U.K.) Inc., and Fidelity Management & Research (Far East) Inc. Abigail Johnson, Member of the Advisory Board of Fidelity Investment Trust, is Mr. Johnson's daughter. THE FOLLOWING INFORMATION SUPPLEMENTS THE INFORMATION FOUND IN THE "TRUSTEES AND OFFICERS" SECTION ON PAGE 49. ABIGAIL P. JOHNSON (36), Member of the Advisory Board of Fidelity Investment Trust (1999), is Vice President of certain Equity Funds (1997), and is a Director of FMR Corp.(1994). Before assuming her current responsibilities, Ms. Johnson managed a number of Fidelity Funds. Edward C. Johnson 3d, Trustee and President of the Funds, is Ms. Johnson's father. THE FOLLOWING INFORMATION REPLACES THE "COMPENSATION TABLE" FOUND IN THE "TRUSTEES AND OFFICERS" SECTION ON PAGE 52. The following table sets forth information describing the compensation of each Trustee and Member of the Advisory Board of each fund for his or her services for the fiscal year ended October 31, 1998 or calendar year ended December 31, 1997, as applicable.
COMPENSATION TABLE AGGREGATE COMPENSATION FROM A Edward C. Johnson 3d** Abigail J. Gary Burkhead** Ralph F. Cox Phyllis Burke Davis FUND P. Johnson** International Growth & IncomeB $ 0 $ 0 $ 0 $ 363 $ 360 Diversified InternationalB $ 0 $ 0 $ 0 $ 432 $ 429 International ValueB $ 0 $ 0 $ 0 $ 658 $ 654 OverseasB,C,D $ 0 $ 0 $ 0 $ 1,417 $ 1,408 WorldwideB $ 0 $ 0 $ 0 $ 164 $ 162 TOTAL COMPENSATION FROM THE $ 0 $ 0 $ 0 $ 214,500 $ 210,000 FUND COMPLEX*,A
AGGREGATE COMPENSATION FROM A Robert M. Gates*** E. Bradley Jones Donald J. Kirk Peter S. Lynch** William O. McCoy **** FUND International Growth & IncomeB $ 365 $ 363 $ 369 $ 0 $ 365 Diversified InternationalB $ 435 $ 432 $ 440 $ 0 $ 435 International ValueB $ 664 $ 658 $ 673 $ 0 $ 664 OverseasB,C,D $ 1,428 $ 1,418 $ 1,445 $ 0 $ 1,428 WorldwideB $ 165 $ 164 $ 167 $ 0 $ 165 TOTAL COMPENSATION FROM THE $ 176,000 $ 211,500 $ 211,500 $ 0 $ 214,500 FUND COMPLEX*,A
AGGREGATE COMPENSATION FROM A Gerald C. McDonough Marvin L. Mann Robert C. Pozen** Thomas R. Williams FUND International Growth & IncomeB $ 450 $ 360 $ 0 $ 365 Diversified InternationalB $ 535 $ 429 $ 0 $ 435 International ValueB $ 816 $ 655 $ 0 $ 663 OverseasB,C,D $ 1,757 $ 1,408 $ 0 $ 1,427 WorldwideB $ 203 $ 163 $ 0 $ 165 TOTAL COMPENSATION FROM THE $ 264,500 $ 214,500 $ 0 $ 214,500 FUND COMPLEX*,A
* Information is for the calendar year ended December 31, 1997 for 230 funds in the complex. ** Interested Trustees of the funds, Ms. Johnson and Mr. Burkhead are compensated by FMR. *** Mr. Gates was appointed to the Board of Trustees of Fidelity Investment Trust effective March 1, 1997. **** Mr. McCoy was appointed to the Board of Trustees Fidelity Investment Trust effective January 1, 1997. A Compensation figures include cash, amounts required to be deferred, and may include amounts deferred at the election of Trustees. For the calendar year ended December 31, 1997, the Trustees accrued required deferred compensation from the funds as follows: Ralph F. Cox, $75,000; Phyllis Burke Davis, $75,000; Robert M. Gates, $62,500; E. Bradley Jones, $75,000; Donald J. Kirk, $75,000; William O. McCoy, $75,000; Gerald C. McDonough, $87,500; Marvin L. Mann, $75,000; and Thomas R. Williams, $75,000. Certain of the non-interested Trustees elected voluntarily to defer a portion of their compensation as follows: Ralph F. Cox, $53,699; Marvin L. Mann, $53,699; and Thomas R. Williams, $62,462. B Compensation figures include cash, and may include amounts required to be deferred and amounts deferred at the election of Trustees. C The following amounts are required to be deferred by each non-interested Trustee: Ralph F. Cox, $643; Phyllis Burke Davis, $643; Robert M. Gates, $643; E. Bradley Jones, $643; Donald J. Kirk, $643; William O. McCoy, $643; Gerald C. McDonough, $751; Marvin L. Mann, $643; and Thomas R. Williams, $643. D Certain of the non-interested Trustees' aggregate compensation from a fund includes accrued voluntary deferred compensation as follows: Ralph F. Cox, $546, Overseas Fund; Marvin L. Mann, $546, Overseas Fund; William O. McCoy, $449, Overseas Fund; and Thomas R. Williams, $546, Overseas Fund. SUPPLEMENT TO FIDELITY'S TARGETED INTERNATIONAL EQUITY FUNDS DECEMBER 30, 1998 PROSPECTUS The following information replaces similar information for Nordic Fund found in the "Investment Details" section on page P-23: Because the fund is considered non-diversified, FMR may invest a significant percentage of the fund's assets in a single issuer. For example, as of December 31, 1998, approximately 21% of the fund's assets was invested in Nokia Corporation. At that date, Nokia represented approximately 17% of the total capitalization of the Nordic market, as represented by the FT-Actuaries World Nordic Index. The following information replaces similar information found in the "Investment Details" section beginning on page P-24: PRINCIPAL INVESTMENT RISKS Many factors affect each fund's performance. A fund's share price changes daily based on changes in market conditions and interest rates and in response to other economic, political or financial developments. A fund's reaction to these developments will be affected by the types of the securities in which the fund invests, the financial condition, industry and economic sector, and geographic location of an issuer, and the fund's level of investment in the securities of that issuer. Because FMR concentrates each fund's investments in a particular country or group of countries, each fund's performance is expected to be closely tied to economic and political conditions within that country or group of countries and to be more volatile than the performance of more geographically diversified funds. When you sell your shares of a fund, they could be worth more or less than what you paid for them. The following factors may significantly affect a fund's performance: STOCK MARKET VOLATILITY. The value of equity securities fluctuates in response to issuer, political, market and economic developments. In the short term, equity prices can fluctuate dramatically in response to these developments. Different parts of the market and different types of equity securities can react differently to these developments. For example, large cap stocks can react differently than small cap stocks, and "growth" stocks can react differently than "value" stocks. Issuer, political or economic developments can affect a single issuer, issuers within an industry or economic sector or geographic region, or the market as a whole. FOREIGN EXPOSURE. Foreign securities, foreign currencies, and securities issued by U.S. entities with substantial foreign operations can involve additional risks relating to political, economic or regulatory conditions in foreign countries. These risks include fluctuations in foreign currencies; withholding or other taxes; trading settlement, custodial and other operational risks; and the less stringent investor protection and disclosure standards of some foreign markets. For example, many foreign countries are less prepared than the United States to properly process and calculate information related to dates from and after January 1, 2000, which could result in difficulty pricing foreign investments and failure by foreign issuers to pay timely dividends, interest or principal. All of these factors can make foreign investments, especially those in emerging markets, more volatile and potentially less liquid than U.S. investments. In addition, foreign markets can perform differently than the U.S. market. The following information replaces similar information found in the "Investment Details" section on page P-25: The NORDIC economies are dependent on the export of natural resources and natural resource products. Efforts to comply with the EMU restrictions by Finland, Denmark and Sweden have resulted in reduced government spending and higher unemployment. Norway has elected not to join the EU and the EMU and, as a result, has more flexibility to pursue different fiscal and economic goals. In addition a small number of companies and industries represent a large portion of the market in each of Denmark, Finland, Norway and Sweden. The following information replaces similar information found in the "Investment Details" section on page P-26: ISSUER-SPECIFIC CHANGES. Changes in the financial condition of an issuer, changes in specific economic or political conditions that affect a particular type of security or issuer, and changes in general economic or political conditions can affect the value of an issuer's securities. The following information replaces similar information found in the "Buying and Selling Shares" section on page P-28: When you place an order to buy shares, note the following: (small solid bullet) All of your purchases must be made in U.S. dollars and checks must be drawn on U.S. banks. (small solid bullet) Fidelity does not accept cash. (small solid bullet) When making a purchase with more than one check, each check must have a value of at least $50. (small solid bullet) Fidelity reserves the right to limit the number of checks processed at one time. (small solid bullet) If your check does not clear, your purchase will be canceled and you could be liable for any losses or fees a fund or Fidelity has incurred. The following information replaces similar information found in the "Account Features and Policies" section on page P-33: To reduce expenses, only one copy of most financial reports and prospectuses will be mailed to your household, even if you have more than one account in a fund. Call Fidelity at 1-800-544-8544 if you need additional copies of financial reports or prospectuses. The following information replaces similar information found in the "Fund Management" section on page P-35: (small solid bullet) Fidelity International Investment Advisors (FIIA), in Pembroke, Bermuda, serves as a sub-adviser for each fund. As of September 28, 1998, FIIA had approximately $1 billion in discretionary assets under management. Currently, FIIA is primarily responsible for choosing investments for Southeast Asia Fund and Hong Kong and China Fund. Currently, FIIA provides investment research and advice on issuers based outside the United States and may also provide investment advisory services for Canada Fund, Emerging Markets Fund, Europe Fund, Europe Capital Appreciation Fund, France Fund, Germany Fund, Japan Fund, Japan Small Companies Fund, Latin America Fund, Nordic Fund, United Kingdom Fund and Pacific Basin Fund. (small solid bullet) Fidelity International Investment Advisors (U.K.) Limited (FIIA (U.K.)L), in London, England, serves as a sub-adviser for each fund. As of September 28, 1998, FIIA(U.K.)L had approximately $2.3 billion in discretionary assets under management. Currently, FIIA (U.K.)L is primarily responsible for choosing investments for Emerging Markets Fund, Europe Fund, France Fund, Germany Fund, Nordic Fund, and United Kingdom Fund. Currently, FIIA (U.K.)L provides investment research and advice on issuers based outside the United States and may also provide investment advisory services for Canada Fund, Europe Capital Appreciation Fund, Hong Kong and China Fund, Japan Fund, Japan Small Companies Fund, Latin America Fund, Pacific Basin Fund, and Southeast Asia Fund. (small solid bullet) Fidelity Investment Japan Ltd. (FIJ), in Tokyo, Japan, serves as a sub-adviser for Emerging Markets Fund, Hong Kong and China Fund, Japan Fund, Japan Small Companies Fund, Pacific Basin Fund, and Southeast Asia Fund. As of September 28, 1998, FIJ had approximately $3.96 billion in discretionary assets under management. Currently FIJ is primarily responsible for choosing investments for Japan Fund, and Japan Small Companies Fund. Currently, FIJ provides investment research and advice on issuers based outside the United States and may also provide investment advisory services for Emerging Markets Fund, Hong Kong and China Fund, Pacific Basin Fund, and Southeast Asia Fund. A fund could be adversely affected if the computer systems used by FMR and other service providers do not properly process and calculate date-related information from and after January 1, 2000. FMR has advised each fund that it is actively working on necessary changes to its computer systems and expects that its systems, and those of other major service providers, will be modified prior to January 1, 2000. However, there can be no assurance that there will be no adverse impact on a fund. The following information supplements the information found on the back cover: INVESTMENT COMPANY ACT OF 1940, FILE NUMBER 811-4008. SUPPLEMENT TO FIDELITY'S TARGETED INTERNATIONAL EQUITY FUNDS FIDELITY CANADA FUND, FIDELITY EMERGING MARKETS FUND, FIDELITY EUROPE FUND, FIDELITY EUROPE CAPITAL APPRECIATION FUND, FIDELITY FRANCE FUND, FIDELITY GERMANY FUND, FIDELITY HONG KONG AND CHINA FUND, FIDELITY JAPAN FUND, FIDELITY JAPAN SMALL COMPANIES FUND, FIDELITY LATIN AMERICA FUND, FIDELITY NORDIC FUND, FIDELITY PACIFIC BASIN FUND, FIDELITY SOUTHEAST ASIA FUND, FIDELITY UNITED KINGDOM FUND FUNDS OF FIDELITY INVESTMENT TRUST DECEMBER 30, 1998 STATEMENT OF ADDITIONAL INFORMATION THE FOLLOWING INFORMATION REPLACES THE THIRD PARAGRAPH UNDER THE HEADING "EXPOSURE TO FOREIGN MARKETS"IN THE" INVESTMENT POLICIES AND LIMITATIONS" SECTION ON PAGE 18: It is anticipated that in most cases the best available market for foreign securities will be on an exchange or in over-the-counter (OTC) markets located outside of the United States. Foreign stock markets, while growing in volume and sophistication, are generally not as developed as those in the United States, and securities of some foreign issuers may be less liquid and more volatile than securities of comparable U.S. issuers. Foreign security trading, settlement and custodial practices (including those involving securities settlement where fund assets may be released prior to receipt of payment) are often less developed than those in U.S. markets, and may result in increased risk or substantial delays in the event of a failed trade or the insolvency of, or breach of duty by, a foreign broker-dealer, securities depository or foreign subcustodian. For example, many foreign countries are less prepared than the United States to properly process and calculate information related to dates from and after January 1, 2000. As a result, some foreign markets, brokers, banks or securities depositories could experience at least temporary disruptions, which could result in difficulty buying and selling securities in certain foreign markets and pricing foreign investments, and foreign issuers could fail to pay timely dividends, interest or principal. In addition, the costs associated with foreign investments, including withholding taxes, brokerage commissions and custodial costs, are generally higher than with U.S. investments. THE FOLLOWING INFORMATION REPLACES SIMILAR INFORMATION FOUND IN THE "TRUSTEES AND OFFICERS" SECTION ON PAGE 67: *EDWARD C. JOHNSON 3d (68), Trustee and President, is Chairman, Chief Executive Officer and a Director of FMR Corp.; a Director and Chairman of the Board and of the Executive Committee of FMR; Chairman and a Director of Fidelity Investments Money Management, Inc. (1998), Fidelity Management & Research (U.K.) Inc., and Fidelity Management & Research (Far East) Inc. Abigail Johnson, Member of the Advisory Board of Fidelity Investment Trust, is Mr. Johnson's daughter. THE FOLLOWING INFORMATION SUPPLEMENTS THE INFORMATION FOUND IN THE "TRUSTEES AND OFFICERS" SECTION ON PAGE 67: ABIGAIL P. JOHNSON (37), Member of the Advisory Board of Fidelity Investment Trust (1999), is Vice President of certain Equity Funds (1997), and is a Director of FMR Corp. (1994). Before assuming her current responsibilities, Ms. Johnson managed a number of Fidelity funds. Edward C. Johnson 3d, Trustee and President of the Funds, is Ms. Johnson's father. THE FOLLOWING INFORMATION REPLACES THE COMPENSATION TABLE FOUND IN THE "TRUSTEES AND OFFICERS" SECTION ON PAGE 70: The following table sets forth information describing the compensation of each Trustee and Member of the Advisory Board of each fund for his or her services for the fiscal year ended October 31, 1998, or calendar year ended December 31, 1997, as applicable.
COMPENSATION TABLE AGGREGATE COMPENSATION FROM A Edward C. Johnson 3d** Abigail P. Johnson** J. Gary Burkhead** Ralph F. Cox FUND Canada FundB $ 0 $ 0 $ 0 $ 28 Emerging Markets FundB $ 0 $ 0 $ 0 $ 153 Europe FundB $ 0 $ 0 $ 0 $ 484 Europe Capital Appreciation $ 0 $ 0 $ 0 $ 205 FundB France FundB $ 0 $ 0 $ 0 $ 4 Germany FundB $ 0 $ 0 $ 0 $ 8 Hong Kong and China FundB $ 0 $ 0 $ 0 $ 59 Japan FundB $ 0 $ 0 $ 0 $ 88 Japan Small Companies FundB $ 0 $ 0 $ 0 $ 34 Latin America FundB $ 0 $ 0 $ 0 $ 240 Nordic FundB $ 0 $ 0 $ 0 $ 36 Pacific Basin FundB $ 0 $ 0 $ 0 $ 78 Southeast Asia FundB $ 0 $ 0 $ 0 $ 90 United Kingdom FundB $ 0 $ 0 $ 0 $ 3 TOTAL COMPENSATION FROM THE $ 0 $ 0 $ 0 $ 214,500 FUND COMPLEX*,A
AGGREGATE COMPENSATION FROM A Phyllis Burke Davis Robert M. Gates*** E. Bradley Jones Donald J. Kirk Peter S. Lynch** FUND Canada FundB $ 28 $ 28 $ 28 $ 28 $ 0 Emerging Markets FundB $ 152 $ 154 $ 153 $ 155 $ 0 Europe FundB $ 481 $ 488 $ 484 $ 497 $ 0 Europe Capital Appreciation $ 203 $ 207 $ 205 $ 210 $ 0 FundB France FundB $ 4 $ 4 $ 4 $ 4 $ 0 Germany FundB $ 8 $ 8 $ 8 $ 8 $ 0 Hong Kong and China FundB $ 59 $ 59 $ 59 $ 60 $ 0 Japan FundB $ 87 $ 88 $ 88 $ 89 $ 0 Japan Small Companies FundB $ 34 $ 35 $ 34 $ 35 $ 0 Latin America FundB $ 239 $ 242 $ 240 $ 243 $ 0 Nordic FundB $ 36 $ 37 $ 36 $ 37 $ 0 Pacific Basin FundB $ 77 $ 78 $ 78 $ 79 $ 0 Southeast Asia FundB $ 89 $ 91 $ 90 $ 91 $ 0 United Kingdom FundB $ 3 $ 3 $ 3 $ 3 $ 0 TOTAL COMPENSATION FROM THE $ 210,000 $ 176,000 $ 211,500 $ 211,500 $ 0 FUND COMPLEX*,A
AGGREGATE COMPENSATION FROM A William O. McCoy **** Gerald C. Mc Donough Marvin L. Mann Robert C. Pozen** FUND Canada FundB $ 28 $ 35 $ 28 $ 0 Emerging Markets FundB $ 154 $ 190 $ 151 $ 0 Europe FundB $ 488 $ 600 $ 483 $ 0 Europe Capital Appreciation $ 207 $ 254 $ 205 $ 0 FundB France FundB $ 4 $ 5 $ 4 $ 0 Germany FundB $ 8 $ 10 $ 8 $ 0 Hong Kong and China FundB $ 59 $ 73 $ 58 $ 0 Japan FundB $ 88 $ 109 $ 87 $ 0 Japan Small Companies FundB $ 35 $ 42 $ 34 $ 0 Latin America FundB $ 242 $ 298 $ 237 $ 0 Nordic FundB $ 37 $ 45 $ 36 $ 0 Pacific Basin FundB $ 78 $ 97 $ 77 $ 0 Southeast Asia FundB $ 91 $ 112 $ 89 $ 0 United Kingdom FundB $ 3 $ 3 $ 3 $ 0 TOTAL COMPENSATION FROM THE $ 214,500 $ 264,500 $ 214,500 $ 0 FUND COMPLEX*,A
AGGREGATE COMPENSATION FROM A Thomas R. Williams FUND Canada FundB $ 28 Emerging Markets FundB $ 154 Europe FundB $ 488 Europe Capital Appreciation $ 207 FundB France FundB $ 4 Germany FundB $ 8 Hong Kong and China FundB $ 59 Japan FundB $ 88 Japan Small Companies FundB $ 34 Latin America FundB $ 241 Nordic FundB $ 37 Pacific Basin FundB $ 78 Southeast Asia FundB $ 91 United Kingdom FundB $ 3 TOTAL COMPENSATION FROM THE $ 214,500 FUND COMPLEX*,A
* Information is for the calendar year ended December 31, 1997 for 230 funds in the complex. ** Interested Trustees of the funds, Ms. Johnson and Mr. Burkhead are compensated by FMR. *** Mr. Gates was appointed to the Board of Trustees of Fidelity Investment Trust effective March 1, 1997. Mr. Gates was elected to the Board of Trustees of Fidelity Investment Trust on September 17, 1997. **** Mr. McCoy was appointed to the Board of Trustees of Fidelity Investment Trust effective January 1, 1997. Mr. McCoy was elected to the Board of Trustees of Fidelity Investment Trust on September 17, 1997. A Compensation figures include cash, amounts required to be deferred, and may include amounts deferred at the election of Trustees. For the calendar year ended December 31, 1997, the Trustees accrued required deferred compensation from the funds as follows: Ralph F. Cox, $75,000; Phyllis Burke Davis, $75,000; Robert M. Gates, $62,500; E. Bradley Jones, $75,000; Donald J. Kirk, $75,000; William O. McCoy, $75,000; Gerald C. McDonough, $87,500; Marvin L. Mann, $75,000; and Thomas R. Williams, $75,000. Certain of the non-interested Trustees elected voluntarily to defer a portion of their compensation as follows: Ralph F. Cox, $53,699; Marvin L. Mann, $53,699; and Thomas R. Williams, $62,462. B Compensation figures include cash. THE FOLLOWING INFORMATION REPLACES SIMILAR INFORMATION FOUND IN THE "MANAGEMENT CONTRACT" SECTION UNDER THE HEADING "SUB-ADVISERS" ON PAGE 76: Currently, FIIA is primarily responsible for choosing investments for Southeast Asia Fund and Hong Kong and China Fund. Currently, FIIA (U.K.)L is primarily responsible for choosing investments for Emerging Markets Fund, Europe Fund, France Fund, Germany Fund, Nordic Fund, and United Kingdom Fund. Currently, FIJ is primarily responsible for choosing investments for Japan Fund and Japan Small Companies Fund. THE FOLLOWING INFORMATION REPLACES SIMILAR INFORMATION UNDER THE HEADING "AUDITOR" IN THE "DESCRIPTION OF THE TRUST" SECTION ON PAGE 81: AUDITOR. PricewaterhouseCoopers LLP, One Post Office Square, Boston, Massachusetts served as independent accountant for eac h fund for the most recent fiscal period. The auditor examined financial statements for the funds and provided other audit, tax, and related services. AUDITOR. Effective February 18, 1999, Deloitte & Touche LLP, 125 Summer Street, Boston, Massachusetts serves as independent accountant for Europe Capital Appreciation Fund for the next fiscal period. The auditor examines financial statements for the fund and provides other audit, tax, and related services. -----END PRIVACY-ENHANCED MESSAGE-----