0001133228-24-007864.txt : 20240821 0001133228-24-007864.hdr.sgml : 20240821 20240821094801 ACCESSION NUMBER: 0001133228-24-007864 CONFORMED SUBMISSION TYPE: 497K PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240821 DATE AS OF CHANGE: 20240821 EFFECTIVENESS DATE: 20240821 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIDELITY INVESTMENT TRUST CENTRAL INDEX KEY: 0000744822 ORGANIZATION NAME: IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497K SEC ACT: 1933 Act SEC FILE NUMBER: 002-90649 FILM NUMBER: 241227589 BUSINESS ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 BUSINESS PHONE: 617-563-7000 MAIL ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 FORMER COMPANY: FORMER CONFORMED NAME: FIDELITY OVERSEAS FUND DATE OF NAME CHANGE: 19861228 0000744822 S000007098 Fidelity Latin America Fund C000092709 Fidelity Advisor Latin America Fund: Class A FLFAX C000092711 Fidelity Advisor Latin America Fund: Class C FLFCX C000092712 Fidelity Advisor Latin America Fund: Class M FLFTX C000092713 Fidelity Advisor Latin America Fund: Class I FLFIX C000205028 Fidelity Advisor Latin America Fund: Class Z FIQMX 497K 1 flafa-efp9505_497k.htm FIDELITY LATIN AMERICA FUND AMCIZ - 497K
Supplement to the
Fidelity® Latin America Fund
Class A, Class M, Class C, Class I, and Class Z
December 30, 2023
Summary Prospectus 
Effective after the close of business on or about September 6, 2024, new positions in the fund may no longer be opened. Existing shareholders may continue to hold their shares and purchase additional shares through the reinvestment of dividend and capital gain distributions until the fund’s Reorganization takes place on or about September 13, 2024.
Proposed Reorganization. The Board of Trustees of Fidelity Investment Trust has unanimously approved an Agreement and Plan of Reorganization (“Agreement”) between Fidelity® Latin America Fund and Fidelity® Emerging Markets Fund pursuant to which Fidelity® Latin America Fund would be reorganized on a tax-free basis with and into Fidelity® Emerging Markets Fund.
As a result of the proposed Reorganization, shareholders of each class of Fidelity® Latin America Fund would receive shares of the corresponding class of Fidelity® Emerging Markets Fund.
The Agreement provides for the transfer of all of the assets of Fidelity® Latin America Fund in exchange for corresponding shares of Fidelity® Emerging Markets Fund equal in value to the net assets of Fidelity® Latin America Fund and the assumption by Fidelity® Emerging Markets Fund of all of the liabilities of Fidelity® Latin America Fund. After the exchange, Fidelity® Latin America Fund will distribute the Fidelity® Emerging Markets Fund shares to its shareholders pro rata, in liquidation of Fidelity® Latin America Fund. As a result, shareholders of Fidelity® Latin America Fund will become shareholders of Fidelity® Emerging Markets Fund (these transactions are collectively referred to as the “Reorganization”).
A Special Meeting (the “Meeting”) of the Shareholders of Fidelity® Latin America Fund is expected to be held during the third quarter of 2024 and approval of the Agreement will be voted on at that time. A combined proxy statement and prospectus containing more information with respect to the Reorganization will be provided to shareholders of record of Fidelity® Latin America Fund in advance of the meeting.
If the Agreement is approved at the Meeting and certain conditions required by the Agreement are satisfied, the Reorganization is expected to take place on or about September 13, 2024. If shareholder approval of the Agreement is delayed due to failure to meet a quorum or otherwise (an “Adjournment”), the Reorganization will become effective, if approved, as soon as practicable thereafter.
 

 

In connection with seeking shareholder approval of the Agreement, effective the close of business on March 22, 2024, new positions in Fidelity® Latin America Fund (the fund) may no longer be opened. Shareholders of the fund on that date may continue to add to their fund positions existing on that date. Investors who did not own shares of the fund on March 22, 2024, generally will not be allowed to buy shares of the fund except that new fund positions may be opened: 1) by participants in most group employer retirement plans (and their successor plans) if a qualifying fund is already established as an investment option under the plans (or under another plan sponsored by the same employer), 2) by participants in a 401(a) plan covered by a master record keeping services agreement between Fidelity and a national federation of employers that included a qualifying fund as a core investment option, 3) for accounts managed on a discretionary basis by certain registered investment advisers that have discretionary assets of at least $500 million invested in mutual funds and already included the fund in their discretionary account program, 4) by a mutual fund or a qualified tuition program for which Fidelity serves as investment manager, 5) by a portfolio manager of the fund, 6) by a fee deferral plan offered to trustees of certain Fidelity® funds, if the fund is an investment option under the plan, and 7) by qualified intermediaries to facilitate in-kind redemption activity when deemed by the Adviser to be in the best interests of the fund, and 8) by certain asset pools associated with an organization that already offers a qualifying fund as an investment option in its retirement plan(s). These restrictions generally will apply to investments made directly with Fidelity and investments made through intermediaries. Investors may be required to demonstrate eligibility to buy shares of the fund before an investment is accepted.
If shareholder approval of the Agreement cannot be achieved, the Board of Trustees has approved a plan of liquidation for Fidelity® Latin America Fund. Prior to such liquidation the fund’s assets will be managed to provide for sufficient liquidity to meet redemptions prior to liquidation. In this event, effective after the close of business on July 16, 2024 (or such later date as may be required in connection with an Adjournment), the fund will no longer permit new positions in the fund to be opened. Existing shareholders will be permitted to continue to hold their shares and purchase additional shares through the reinvestment of dividend and capital gain distributions until the fund’s liquidation on or about September 13, 2024 or as soon as practicable thereafter in the event of an Adjournment.
The foregoing is not a solicitation of any proxy. For a free copy of the Proxy Statement describing the Reorganization (and containing important information about fees, expenses and risk considerations) and a Prospectus for Fidelity® Emerging Markets Fund please call 1-877-208-0098. The prospectus/proxy statement will also be available for free on the Securities and Exchange Commission’s web site (www.sec.gov).
 

 

Effective March 1, 2024, the fund’s management contract was amended to incorporate administrative services previously covered under separate services agreements. The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class’s management fee.
The following information replaces similar information found in the “Fund Summary” section under the “Fee Table” heading.
Annual Operating Expenses
(expenses that you pay each year as a % of the value of your investment)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Class A
 
 
Class M
 
 
Class C
 
 
Class I
 
 
Class Z
Management fee
 
 
0.88%A,B
 
 
0.88%A,B
 
 
0.88%A,B
 
 
0.88%A,B
 
 
0.72%A,B
Distribution and/or Service
(12b-1) fees
 
 
0.25%   
 
 
0.50%   
 
 
1.00%   
 
 
None   
 
 
None   
Other expenses
 
 
0.10%B
 
 
0.10%B
 
 
0.09%B
 
 
0.10%B
 
 
0.10%B
Total annual operating expenses
 
 
1.23%   
 
 
1.48%   
 
 
1.97%   
 
 
0.98%   
 
 
0.82%   
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
A The management fee covers administrative services previously provided under separate services agreements with the fund, for which 0.25% for Class A, 0.25% for Class M, 0.25% for Class C, 0.25% for Class I, and 0.09% for Class Z was previously charged under the services agreements.
B Adjusted to reflect current fees.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Class A
 
 
Class M
 
 
Class C
 
 
Class I
 
 
Class Z
 
 
 
Sell All
Shares
 
 
Hold
Shares
 
 
Sell All
Shares
 
 
Hold
Shares
 
 
Sell All
Shares
 
 
Hold
Shares
 
 
Sell All
Shares
 
 
Hold
Shares
 
 
Sell All
Shares
 
 
Hold
Shares
1 year
 
 
$693
 
 
$693
 
 
$495
 
 
$495
 
 
$300
 
 
$200
 
 
$100
 
 
$100
 
 
$84
 
 
$84
3 years
 
 
$943
 
 
$943
 
 
$802
 
 
$802
 
 
$618
 
 
$618
 
 
$312
 
 
$312
 
 
$262
 
 
$262
5 years
 
 
$1,212
 
 
$1,212
 
 
$1,130
 
 
$1,130
 
 
$1,062
 
 
$1,062
 
 
$542
 
 
$542
 
 
$455
 
 
$455
10 years
 
 
$ 1,978
 
 
$ 1,978
 
 
$ 2,057
 
 
$ 2,057
 
 
$ 2,104
 
 
$ 2,104
 
 
$ 1,201
 
 
$ 1,201
 
 
$ 1,014
 
 
$ 1,014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FALAA-SUSTK-0824-106
1.9881403.106
 
 
August 21, 2024