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Fidelity Emerging Asia Fund
Fund Summary
Fund:
Fidelity® Emerging Asia Fund
Investment Objective
The fund seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, or sell shares of the fund.
Shareholder fees (fees paid directly from your investment)
Shareholder Fees
Fidelity Emerging Asia Fund
Redemption fee on shares held (as a % of amount redeemed) [1] 1.50%
[1] Held less than 90 days
Annual fund operating expenses (expenses that you pay each year as a % of the value of your investment)
Annual Fund Operating Expenses
Fidelity Emerging Asia Fund
Management fee [1] 0.49%
Distribution and/or Service (12b-1) fees none
Other expenses 0.33%
Total annual fund operating expenses 0.82%
[1] (fluctuates based on the fund's performance relative to a securities market index)

This example helps compare the cost of investing in the fund with the cost of investing in other mutual funds.

Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:

Expense Example (USD $)
Fidelity Emerging Asia Fund
1 year 84
3 years 262
5 years 455
10 years 1,014
Portfolio Turnover
The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 115% of the average value of its portfolio.
Principal Investment Strategies
  • Normally investing at least 80% of assets in securities of Asian emerging market issuers and other investments that are tied economically to Asian emerging markets.
  • Normally investing primarily in common stocks.
  • Allocating investments across different Asian countries with emerging markets.
  • 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.
Principal Investment Risks
  • Stock Market Volatility. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market can react differently to these developments.
  • Foreign and Emerging Market Risk. Foreign markets, particularly emerging markets, can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. Emerging markets can be subject to greater social, economic, regulatory, and political uncertainties and can be extremely volatile.
  • Geographic Concentration in Asia. Because Fidelity Management & Research Company (FMR) concentrates the fund's investments in Asia, the fund's performance is expected to be closely tied to social, political, and economic conditions within Asia and to be more volatile than the performance of more geographically diversified funds.
  • Issuer-Specific Changes. The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole.

An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.

Performance

The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index over various periods of time. The index description appears in the Additional Information about the Indexes section of the prospectus. Prior to December 1, 2010, the fund operated under certain different investment policies and compared its performance to a different index. The fund's historical performance may not represent its current investment policies. Past performance (before and after taxes) is not an indication of future performance.

Visit www.fidelity.com for updated return information.

Year-by-Year Returns

Calendar Years

Bar Chart
During the periods shown in the chart:
Returns
Quarter ended
Highest Quarter Return29.99%December 31, 2001
Lowest Quarter Return-22.08%September 30, 2001
Year-to-Date Return-20.25%September 30, 2011
Average Annual Returns
After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement.
For the periods ended
December 31, 2010
Average Annual Total Returns Fidelity Emerging Asia Fund
Past 1 year
Past 5 years
Past 10 years
Return Before Taxes
22.78% 11.88% 13.22%
Return After Taxes on Distributions
22.44% 11.04% 12.78%
Return After Taxes on Distributions and Sale of Fund Shares
15.28% 10.15% 11.86%
MSCI® AC (All Country) Asia ex Japan Index (reflects no deduction for fees or expenses)
19.93% 13.19% 13.31%
MSCI AC (All Country) Far East ex Japan Index (reflects no deduction for fees or expenses)
19.54% 12.47% 12.66%
Fidelity Emerging Asia Fund Linked Index (reflects no deduction for fees or expenses)
19.84% 12.53% 12.68%
Effective December 1, 2010, the fund began comparing its performance to the MSCI® AC (All Country) Asia ex Japan Index rather than the MSCI AC (All Country) Far East ex Japan Index because the MSCI AC (All Country) Asia ex Japan Index conforms more closely to the fund's investment strategies.
Fidelity Europe Capital Appreciation Fund
Fund Summary
Fund:
Fidelity® Europe Capital Appreciation Fund
Investment Objective
The fund seeks long-term capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, or sell shares of the fund.
Shareholder fees (fees paid directly from your investment)
Shareholder Fees
Fidelity Europe Capital Appreciation Fund
Redemption fee on shares held (as a % of amount redeemed) [1] 1.00%
[1] Held less than 30 days
Annual fund operating expenses (expenses that you pay each year as a % of the value of your investment)
Annual Fund Operating Expenses
Fidelity Europe Capital Appreciation Fund
Management fee [1] 0.68%
Distribution and/or Service (12b-1) fees none
Other expenses 0.34%
Total annual fund operating expenses 1.02%
[1] (fluctuates based on the fund's performance relative to a securities market index)

This example helps compare the cost of investing in the fund with the cost of investing in other mutual funds.

Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:

Expense Example (USD $)
Fidelity Europe Capital Appreciation Fund
1 year 104
3 years 325
5 years 563
10 years 1,248
Portfolio Turnover
The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 116% of the average value of its portfolio.
Principal Investment Strategies
  • Normally investing at least 80% of assets in securities of European issuers and other investments that are tied economically to Europe.
  • Normally investing primarily in common stocks.
  • Allocating investments across different European countries.
  • 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.
Principal Investment Risks
  • Stock Market Volatility. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market can react differently to these developments.
  • Foreign Exposure. Foreign markets, particularly emerging markets, can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. Emerging markets can be subject to greater social, economic, regulatory, and political uncertainties and can be extremely volatile.
  • Geographic Concentration in Europe. Because Fidelity Management & Research Company (FMR) concentrates the fund's investments in Europe, the fund's performance is expected to be closely tied to social, political, and economic conditions within Europe and to be more volatile than the performance of more geographically diversified funds.
  • Issuer-Specific Changes. The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole.

An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.

Performance

The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index over various periods of time. The index description appears in the Additional Information about the Indexes section of the prospectus. Past performance (before and after taxes) is not an indication of future performance.

Visit www.fidelity.com for updated return information.

Year-by-Year Returns

Calendar Years

Bar Chart
During the periods shown in the chart:
Returns
Quarter ended
Highest Quarter Return23.54%June 30, 2009
Lowest Quarter Return-22.82%September 30, 2002
Year-to-Date Return-21.17%September 30, 2011
Average Annual Returns
After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement. Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares.
For the periods ended
December 31, 2010
Average Annual Total Returns Fidelity Europe Capital Appreciation Fund
Past 1 year
Past 5 years
Past 10 years
Return Before Taxes
8.38% 3.64% 5.04%
Return After Taxes on Distributions
8.38% 2.62% 4.20%
Return After Taxes on Distributions and Sale of Fund Shares
5.81% 3.16% 4.30%
MSCI® Europe Index (reflects no deduction for fees or expenses)
4.13% 3.10% 3.48%
Fidelity Europe Fund
Fund Summary
Fund:
Fidelity® Europe Fund
Investment Objective
The fund seeks growth of capital over the long term.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, or sell shares of the fund.
Shareholder fees (fees paid directly from your investment)
Shareholder Fees
Fidelity Europe Fund
Redemption fee on shares held (as a % of amount redeemed) [1] 1.00%
[1] Held less than 30 days
Annual fund operating expenses (expenses that you pay each year as a % of the value of your investment)
Annual Fund Operating Expenses
Fidelity Europe Fund
Management fee [1] 0.81%
Distribution and/or Service (12b-1) fees none
Other expenses 0.29%
Total annual fund operating expenses 1.10%
[1] (fluctuates based on the fund's performance relative to a securities market index)

This example helps compare the cost of investing in the fund with the cost of investing in other mutual funds.

Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:

Expense Example (USD $)
Fidelity Europe Fund
1 year 112
3 years 350
5 years 606
10 years 1,340
Portfolio Turnover
The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 117% of the average value of its portfolio.
Principal Investment Strategies
  • Normally investing at least 80% of assets in securities of European issuers and other investments that are tied economically to Europe.
  • Normally investing primarily in common stocks.
  • Allocating investments across different European countries.
  • 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.
Principal Investment Risks
  • Stock Market Volatility. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market can react differently to these developments.
  • Foreign Exposure. Foreign markets, particularly emerging markets, can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. Emerging markets can be subject to greater social, economic, regulatory, and political uncertainties and can be extremely volatile.
  • Geographic Concentration in Europe. Because Fidelity Management & Research Company (FMR) concentrates the fund's investments in Europe, the fund's performance is expected to be closely tied to social, political, and economic conditions within Europe and to be more volatile than the performance of more geographically diversified funds.
  • Issuer-Specific Changes. The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole.

An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.

Performance

The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index over various periods of time. The index description appears in the Additional Information about the Indexes section of the prospectus. Past performance (before and after taxes) is not an indication of future performance.

Visit www.fidelity.com for updated return information.

Year-by-Year Returns

Calendar Years

Bar Chart
During the periods shown in the chart:
Returns
Quarter ended
Highest Quarter Return29.36%June 30, 2003
Lowest Quarter Return-28.01%September 30, 2002
Year-to-Date Return-21.01%September 30, 2011
Average Annual Returns
After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement. Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares.
For the periods ended
December 31, 2010
Average Annual Total Returns Fidelity Europe Fund
Past 1 year
Past 5 years
Past 10 years
Return Before Taxes
8.56% 3.12% 5.03%
Return After Taxes on Distributions
8.60% 2.33% 4.32%
Return After Taxes on Distributions and Sale of Fund Shares
6.40% 2.78% 4.33%
MSCI® Europe Index (reflects no deduction for fees or expenses)
4.13% 3.10% 3.48%
Fidelity Japan Smaller Companies Fund
Fund Summary
Fund:
Fidelity® Japan Smaller Companies Fund
Investment Objective
The fund seeks long-term growth of capital.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, or sell shares of the fund.
Shareholder fees (fees paid directly from your investment)
Shareholder Fees
Fidelity Japan Smaller Companies Fund
Redemption fee on shares held (as a % of amount redeemed) [1] 1.50%
[1] Held less than 90 days
Annual fund operating expenses (expenses that you pay each year as a % of the value of your investment)
Annual Fund Operating Expenses
Fidelity Japan Smaller Companies Fund
Management fee 0.71%
Distribution and/or Service (12b-1) fees none
Other expenses 0.34%
Total annual fund operating expenses 1.05%

This example helps compare the cost of investing in the fund with the cost of investing in other mutual funds.

Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:

Expense Example (USD $)
Fidelity Japan Smaller Companies Fund
1 year 107
3 years 334
5 years 579
10 years 1,283
Portfolio Turnover
The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 133% of the average value of its portfolio.
Principal Investment Strategies
  • Normally investing at least 80% of assets in securities of Japanese issuers, and other investments that are tied economically to Japan, with smaller market capitalizations (which, for purposes of this fund, are those companies with market capitalizations similar to companies in the Russell/Nomura Mid-Small Cap Index or the Japanese Association of Securities Dealers Automated Quotations Index (JASDAQ)).
  • Potentially investing in securities of Japanese issuers with larger market capitalizations.
  • Normally investing primarily in common stocks.
  • 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.
Principal Investment Risks
  • Stock Market Volatility. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market can react differently to these developments.
  • Foreign Exposure. Foreign markets can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market.
  • Geographic Concentration in Japan. Because Fidelity Management & Research Company (FMR) concentrates the fund's investments in Japan, the fund's performance is expected to be closely tied to social, political, and economic conditions within Japan and to be more volatile than the performance of more geographically diversified funds.
  • Issuer-Specific Changes. The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole.
  • Small Cap Investing. The value of securities of smaller, less well-known issuers can perform differently from the market as a whole and other types of stocks and can be more volatile than that of larger issuers.

An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.

Performance

The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index and an additional index over various periods of time. The indexes have characteristics relevant to the fund's investment strategies. Index descriptions appear in the Additional Information about the Indexes section of the prospectus. Past performance (before and after taxes) is not an indication of future performance.

Visit www.fidelity.com for updated return information.

Year-by-Year Returns

Calendar Years

Bar Chart
During the periods shown in the chart:
Returns
Quarter ended
Highest Quarter Return41.19%June 30, 2009
Lowest Quarter Return-20.08%March 31, 2009
Year-to-Date Return-6.31%September 30, 2011
Average Annual Returns
After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement. Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares.
For the periods ended
December 31, 2010
Average Annual Total Returns Fidelity Japan Smaller Companies Fund
Past 1 year
Past 5 years
Past 10 years
Return Before Taxes
12.25% (9.80%) 2.97%
Return After Taxes on Distributions
12.06% (10.00%) 2.77%
Return After Taxes on Distributions and Sale of Fund Shares
8.36% (7.99%) 2.65%
Russell/Nomura Mid-Small Cap Index (reflects no deduction for fees, expenses, or taxes)
17.00% (3.17%) 3.90%
Fidelity Japan Smaller Companies Fund Linked Index (reflects no deduction for fees, expenses, or taxes)
17.00% (4.57%) 5.19%
Fidelity Nordic Fund
Fund Summary
Fund:
Fidelity® Nordic Fund
Investment Objective
The fund seeks long-term growth of capital.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, or sell shares of the fund.
Shareholder fees (fees paid directly from your investment)
Shareholder Fees
Fidelity Nordic Fund
Redemption fee on shares held (as a % of amount redeemed) [1] 1.50%
[1] Held less than 90 days
Annual fund operating expenses (expenses that you pay each year as a % of the value of your investment)
Annual Fund Operating Expenses
Fidelity Nordic Fund
Management fee 0.71%
Distribution and/or Service (12b-1) fees none
Other expenses 0.34%
Total annual fund operating expenses 1.05%

This example helps compare the cost of investing in the fund with the cost of investing in other mutual funds.

Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:

Expense Example (USD $)
Fidelity Nordic Fund
1 year 107
3 years 334
5 years 579
10 years 1,283
Portfolio Turnover
The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 265% of the average value of its portfolio.
Principal Investment Strategies
  • Normally investing at least 80% of assets in securities of Danish, Finnish, Norwegian, and Swedish issuers and other investments that are tied economically to the Nordic region.
  • Normally investing primarily in common stocks.
  • Allocating investments across different Nordic countries.
  • Investing up to 35% of total assets in any industry that accounts for more than 20% of the Nordic market.
  • 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.
Principal Investment Risks
  • Stock Market Volatility. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market can react differently to these developments.
  • Foreign Exposure. Foreign markets can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market.
  • Geographic Concentration in Nordic Region. Because Fidelity Management & Research Company (FMR) concentrates the fund's investments in the Nordic region, the fund's performance is expected to be closely tied to social, political, and economic conditions within the Nordic region and to be more volatile than the performance of more geographically diversified funds. In addition, because FMR may invest a significant percentage of the fund's assets in certain industries, the fund's performance could be affected to the extent that the particular industry or industries in which the fund invests are sensitive to adverse social, political, economic, currency, or regulatory developments.
  • Issuer-Specific Changes. The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole.

An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.

Performance

The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index over various periods of time. The index description appears in the Additional Information about the Indexes section of the prospectus. Past performance (before and after taxes) is not an indication of future performance.

Visit www.fidelity.com for updated return information.

Year-by-Year Returns

Calendar Years

Bar Chart
During the periods shown in the chart:
Returns
Quarter ended
Highest Quarter Return31.00%June 30, 2009
Lowest Quarter Return-30.46%September 30, 2008
Year-to-Date Return-23.03%September 30, 2011
Average Annual Returns
After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement.
For the periods ended
December 31, 2010
Average Annual Total Returns Fidelity Nordic Fund
Past 1 year
Past 5 years
Past 10 years
Return Before Taxes
26.49% 6.71% 5.94%
Return After Taxes on Distributions
26.43% 6.24% 5.53%
Return After Taxes on Distributions and Sale of Fund Shares
17.52% 5.88% 5.21%
FTSE Capped Nordic Index (reflects no deduction for fees, expenses, or taxes)
28.00% 9.43% 5.98%
Fidelity Pacific Basin Fund
Fund Summary
Fund:
Fidelity® Pacific Basin Fund
Investment Objective
The fund seeks growth of capital over the long term.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, or sell shares of the fund.
Shareholder fees (fees paid directly from your investment)
Shareholder Fees
Fidelity Pacific Basin Fund
Redemption fee on shares held (as a % of amount redeemed) [1] 1.50%
[1] Held less than 90 days
Annual fund operating expenses (expenses that you pay each year as a % of the value of your investment)
Annual Fund Operating Expenses
Fidelity Pacific Basin Fund
Management fee [1] 0.82%
Distribution and/or Service (12b-1) fees none
Other expenses 0.32%
Total annual fund operating expenses 1.14%
[1] (fluctuates based on the fund's performance relative to a securities market index)

This example helps compare the cost of investing in the fund with the cost of investing in other mutual funds.

Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:

Expense Example (USD $)
Fidelity Pacific Basin Fund
1 year 116
3 years 362
5 years 628
10 years 1,386
Portfolio Turnover
The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 59% of the average value of its portfolio.
Principal Investment Strategies
  • Normally investing at least 80% of assets in securities of Pacific Basin issuers and other investments that are tied economically to the Pacific Basin.
  • Normally investing primarily in common stocks.
  • Allocating investments across different Pacific Basin countries.
  • 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.
Principal Investment Risks
  • Stock Market Volatility. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market can react differently to these developments.
  • Foreign Exposure. Foreign markets, particularly emerging markets, can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. Emerging markets can be subject to greater social, economic, regulatory, and political uncertainties and can be extremely volatile.
  • Geographic Concentration in Pacific Basin. Because Fidelity Management & Research Company (FMR) concentrates the fund's investments in the Pacific Basin, the fund's performance is expected to be closely tied to social, political, and economic conditions within the Pacific Basin and to be more volatile than the performance of more geographically diversified funds.
  • Issuer-Specific Changes. The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole.

An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.

Performance

The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index over various periods of time. The index description appears in the Additional Information about the Indexes section of the prospectus. Past performance (before and after taxes) is not an indication of future performance.

Visit www.fidelity.com for updated return information.

Year-by-Year Returns

Calendar Years

Bar Chart
During the periods shown in the chart:
Returns
Quarter ended
Highest Quarter Return40.87%June 30, 2009
Lowest Quarter Return-26.67%September 30, 2008
Year-to-Date Return-18.30%September 30, 2011
Average Annual Returns
After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement.
For the periods ended
December 31, 2010
Average Annual Total Returns Fidelity Pacific Basin Fund
Past 1 year
Past 5 years
Past 10 years
Return Before Taxes
32.80% 6.37% 7.74%
Return After Taxes on Distributions
31.55% 5.29% 7.15%
Return After Taxes on Distributions and Sale of Fund Shares
21.56% 5.28% 6.73%
MSCI® AC (All Country) Pacific Index (reflects no deduction for fees or expenses)
16.78% 4.14% 6.12%
Retail | Fidelity Canada Fund
Fund Summary
Fund/Class:
Fidelity® Canada Fund/Fidelity Canada Fund
Investment Objective
The fund seeks growth of capital over the long term.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, or sell shares of the fund.
Shareholder fees (fees paid directly from your investment)
Shareholder Fees
Retail
Fidelity Canada Fund
Class: Fidelity Canada Fund
Redemption fee on shares held (as a % of amount redeemed) [1] 1.50%
[1] Held less than 90 days
Annual class operating expenses (expenses that you pay each year as a % of the value of your investment)
Annual Class Operating Expenses
Retail
Fidelity Canada Fund
Class: Fidelity Canada Fund
Management fee [1] 0.57%
Distribution and/or Service (12b-1) fees none
Other expenses 0.25%
Total annual operating expenses 0.82%
[1] (fluctuates based on the fund's performance relative to a securities market index)

This example helps compare the cost of investing in the fund with the cost of investing in other mutual funds.

Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:

Expense Example (USD $)
Retail
Fidelity Canada Fund
Class: Fidelity Canada Fund
1 year 84
3 years 262
5 years 455
10 years 1,014
Portfolio Turnover
The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 104% of the average value of its portfolio.
Principal Investment Strategies
  • Normally investing at least 80% of assets in securities of Canadian issuers and other investments that are tied economically to Canada.
  • Potentially investing in securities of U.S. issuers.
  • Normally investing primarily in common stocks.
  • Investing up to 35% of total assets in any industry that accounts for more than 20% of the Canadian market.
  • 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.
Principal Investment Risks
  • Stock Market Volatility. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market can react differently to these developments.
  • Foreign Exposure. Foreign markets can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market.
  • Geographic Concentration in Canada. Because Fidelity Management & Research Company (FMR) concentrates the fund's investments in Canada, the fund's performance is expected to be closely tied to social, political, and economic conditions within Canada and to be more volatile than the performance of more geographically diversified funds. In addition, because FMR may invest a significant percentage of the fund's assets in certain industries, the fund's performance could be affected to the extent that the particular industry or industries in which the fund invests are sensitive to adverse social, political, economic, currency, or regulatory developments.
  • Issuer-Specific Changes. The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole.

An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.

Performance

The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index over various periods of time. The index description appears in the Additional Information about the Indexes section of the prospectus. Past performance (before and after taxes) is not an indication of future performance.

Visit www.fidelity.com for updated return information.

Year-by-Year Returns

Calendar Years

Bar Chart
During the periods shown in the chart:
Returns
Quarter ended
Highest Quarter Return24.96%June 30, 2009
Lowest Quarter Return-30.45%December 31, 2008
Year-to-Date Return-17.01%September 30, 2011
Average Annual Returns
After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement.
For the periods ended
December 31, 2010
Average Annual Total Returns Retail Fidelity Canada Fund
Past 1 year
Past 5 years
Past 10 years
Return Before Taxes Class: Fidelity Canada Fund
21.84% 8.67% 12.19%
Return After Taxes on Distributions Class: Fidelity Canada Fund
21.47% 8.29% 12.00%
Return After Taxes on Distributions and Sale of Fund Shares Class: Fidelity Canada Fund
14.48% 7.50% 10.98%
S&P®/TSX Composite Index (reflects no deduction for fees, expenses, or taxes)
24.08% 10.01% 11.06%
Retail | Fidelity China Region Fund
Fund Summary
Fund/Class:
Fidelity® China Region Fund/Fidelity China Region Fund
Investment Objective
The fund seeks long-term growth of capital.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, or sell shares of the fund.
Shareholder fees (fees paid directly from your investment)
Shareholder Fees
Retail
Fidelity China Region Fund
Class: Fidelity China Region Fund
Redemption fee on shares held (as a % of amount redeemed) [1] 1.50%
[1] Held less than 90 days
Annual class operating expenses (expenses that you pay each year as a % of the value of your investment)
Annual Class Operating Expenses
Retail
Fidelity China Region Fund
Class: Fidelity China Region Fund
Management fee 0.71%
Distribution and/or Service (12b-1) fees none
Other expenses 0.33%
Total annual operating expenses 1.04%

This example helps compare the cost of investing in the fund with the cost of investing in other mutual funds.

Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:

Expense Example (USD $)
Retail
Fidelity China Region Fund
Class: Fidelity China Region Fund
1 year 106
3 years 331
5 years 574
10 years 1,271
Portfolio Turnover
The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 87% of the average value of its portfolio.
Principal Investment Strategies
  • Normally investing at least 80% of assets in securities of Hong Kong, Taiwanese, and Chinese issuers and other investments that are tied economically to the China region.
  • Normally investing primarily in common stocks.
  • Allocating investments across different China region countries.
  • Investing up to 35% of total assets in any industry that accounts for more than 20% of the Hong Kong, Taiwanese, and Chinese market.
  • 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.
Principal Investment Risks
  • Stock Market Volatility. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market can react differently to these developments.
  • Foreign Exposure. Foreign markets, particularly emerging markets, can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. Emerging markets can be subject to greater social, economic, regulatory, and political uncertainties and can be extremely volatile.
  • Geographic Concentration in the China Region. Because Fidelity Management & Research Company (FMR) concentrates the fund's investments in the China region, the fund's performance is expected to be closely tied to social, political, and economic conditions within the China region and to be more volatile than the performance of more geographically diversified funds. In addition, because FMR may invest a significant percentage of the fund's assets in certain industries, the fund's performance could be affected to the extent that the particular industry or industries in which the fund invests are sensitive to adverse social, political, economic, currency, or regulatory developments.
  • Issuer-Specific Changes. The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole.

An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.

Performance

The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index and an additional index over various periods of time. The indexes have characteristics relevant to the fund's investment strategies. Index descriptions appear in the Additional Information about the Indexes section of the prospectus. Past performance (before and after taxes) is not an indication of future performance.

Visit www.fidelity.com for updated return information.

Year-by-Year Returns

Calendar Years

Bar Chart
During the periods shown in the chart:
Returns
Quarter ended
Highest Quarter Return35.41%June 30, 2009
Lowest Quarter Return-21.87%September 30, 2008
Year-to-Date Return-24.27%September 30, 2011
Average Annual Returns
After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement.
For the periods ended
December 31, 2010
Average Annual Total Returns Retail Fidelity China Region Fund
Past 1 year
Past 5 years
Past 10 years
Return Before Taxes Class: Fidelity China Region Fund
18.00% 15.36% 11.18%
Return After Taxes on Distributions Class: Fidelity China Region Fund
17.80% 14.66% 10.65%
Return After Taxes on Distributions and Sale of Fund Shares Class: Fidelity China Region Fund
12.00% 13.41% 9.84%
MSCI® Golden Dragon Index (reflects no deduction for fees, expenses, or taxes)
13.60% 13.09% 9.53%
Fidelity China Region Fund Linked Index (reflects no deduction for fees, expenses, or taxes)
13.60% 12.28% 9.10%
Retail | Fidelity Emerging Markets Fund
Fund Summary
Fund/Class:
Fidelity® Emerging Markets Fund/Fidelity Emerging Markets Fund
Investment Objective
The fund seeks capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, or sell shares of the fund.
Shareholder fees (fees paid directly from your investment)
Shareholder Fees
Retail
Fidelity Emerging Markets Fund
Class: Fidelity Emerging Markets Fund
Redemption fee on shares held (as a % of amount redeemed) [1] 1.50%
[1] Held less than 90 days
Annual class operating expenses (expenses that you pay each year as a % of the value of your investment)
Annual Class Operating Expenses
Retail
Fidelity Emerging Markets Fund
Class: Fidelity Emerging Markets Fund
Management fee 0.71%
Distribution and/or Service (12b-1) fees none
Other expenses 0.36%
Total annual operating expenses 1.07%

This example helps compare the cost of investing in the fund with the cost of investing in other mutual funds.

Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:

Expense Example (USD $)
Retail
Fidelity Emerging Markets Fund
Class: Fidelity Emerging Markets Fund
1 year 109
3 years 340
5 years 590
10 years 1,306
Portfolio Turnover
The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 122% of the average value of its portfolio.
Principal Investment Strategies
  • Normally investing at least 80% of assets in securities of issuers in emerging markets (countries that have an emerging stock market as defined by MSCI, countries or markets with low- to middle-income economies as classified by the World Bank, and other countries or markets with similar emerging characteristics) and other investments that are tied economically to emerging markets.
  • Normally investing primarily in common stocks.
  • Allocating investments across different emerging market countries.
  • 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.
Principal Investment Risks
  • Stock Market Volatility. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market can react differently to these developments.
  • Foreign and Emerging Market Risk. Foreign markets, particularly emerging markets, can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. Emerging markets can be subject to greater social, economic, regulatory, and political uncertainties and can be extremely volatile.
  • Issuer-Specific Changes. The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole.

An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.

Performance

The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index over various periods of time. The index description appears in the Additional Information about the Indexes section of the prospectus. Past performance (before and after taxes) is not an indication of future performance.

Visit www.fidelity.com for updated return information.

Year-by-Year Returns

Calendar Years

Bar Chart
During the periods shown in the chart:
Returns
Quarter ended
Highest Quarter Return36.33%June 30, 2009
Lowest Quarter Return-34.17%December 31, 2008
Year-to-Date Return-24.21%September 30, 2011
Average Annual Returns
After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement.
For the periods ended
December 31, 2010
Average Annual Total Returns Retail Fidelity Emerging Markets Fund
Past 1 year
Past 5 years
Past 10 years
Return Before Taxes Class: Fidelity Emerging Markets Fund
18.22% 9.53% 14.22%
Return After Taxes on Distributions Class: Fidelity Emerging Markets Fund
18.16% 9.45% 14.17%
Return After Taxes on Distributions and Sale of Fund Shares Class: Fidelity Emerging Markets Fund
12.36% 8.53% 13.04%
MSCI® Emerging Markets Index (reflects no deduction for fees, expenses, or taxes)
19.20% 13.11% 16.23%
Retail | Fidelity Japan Fund
Fund Summary
Fund/Class:
Fidelity® Japan Fund/Fidelity Japan Fund
Investment Objective
The fund seeks long-term growth of capital.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, or sell shares of the fund.
Shareholder fees (fees paid directly from your investment)
Shareholder Fees
Retail
Fidelity Japan Fund
Class: Fidelity Japan Fund
Redemption fee on shares held (as a % of amount redeemed) [1] 1.50%
[1] Held less than 90 days
Annual class operating expenses (expenses that you pay each year as a % of the value of your investment)
Annual Class Operating Expenses
Retail
Fidelity Japan Fund
Class: Fidelity Japan Fund
Management fee [1] 0.54%
Distribution and/or Service (12b-1) fees none
Other expenses 0.32%
Total annual operating expenses 0.86%
[1] (fluctuates based on the fund's performance relative to a securities market index)

This example helps compare the cost of investing in the fund with the cost of investing in other mutual funds.

Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:

Expense Example (USD $)
Retail
Fidelity Japan Fund
Class: Fidelity Japan Fund
1 year 88
3 years 274
5 years 477
10 years 1,061
Portfolio Turnover
The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 134% of the average value of its portfolio.
Principal Investment Strategies
  • Normally investing at least 80% of assets in securities of Japanese issuers and other investments that are tied economically to Japan.
  • Normally investing primarily in common stocks.
  • 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.
Principal Investment Risks
  • Stock Market Volatility. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market can react differently to these developments.
  • Foreign Exposure. Foreign markets can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market.
  • Geographic Concentration in Japan. Because Fidelity Management & Research Company (FMR) concentrates the fund's investments in Japan, the fund's performance is expected to be closely tied to social, political, and economic conditions within Japan and to be more volatile than the performance of more geographically diversified funds.
  • Issuer-Specific Changes. The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole.

An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.

Performance

The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index over various periods of time. The index description appears in the Additional Information about the Indexes section of the prospectus. Past performance (before and after taxes) is not an indication of future performance.

Visit www.fidelity.com for updated return information.

Year-by-Year Returns

Calendar Years

Bar Chart
During the periods shown in the chart:
Returns
Quarter ended
Highest Quarter Return26.58%June 30, 2009
Lowest Quarter Return-26.00%September 30, 2001
Year-to-Date Return-14.13%September 30, 2011
Average Annual Returns
After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement. Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares.
For the periods ended
December 31, 2010
Average Annual Total Returns Retail Fidelity Japan Fund
Past 1 year
Past 5 years
Past 10 years
Return Before Taxes Class: Fidelity Japan Fund
14.70% (5.03%) 0.27%
Return After Taxes on Distributions Class: Fidelity Japan Fund
14.20% (5.57%) (0.02%)
Return After Taxes on Distributions and Sale of Fund Shares Class: Fidelity Japan Fund
10.46% (4.05%) 0.32%
Tokyo Stock Price Index (TOPIX) (reflects no deduction for fees, expenses, or taxes)
15.89% (2.97%) 1.20%
Retail | Fidelity Latin America Fund
Fund Summary
Fund/Class:
Fidelity® Latin America Fund/Fidelity Latin America Fund
Investment Objective
The fund seeks long-term growth of capital.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy, hold, or sell shares of the fund.
Shareholder fees (fees paid directly from your investment)
Shareholder Fees
Retail
Fidelity Latin America Fund
Class: Fidelity Latin America Fund
Redemption fee on shares held (as a % of amount redeemed) [1] 1.50%
[1] Held less than 90 days
Annual class operating expenses (expenses that you pay each year as a % of the value of your investment)
Annual Class Operating Expenses
Retail
Fidelity Latin America Fund
Class: Fidelity Latin America Fund
Management fee 0.71%
Distribution and/or Service (12b-1) fees none
Other expenses 0.29%
Total annual operating expenses 1.00%

This example helps compare the cost of investing in the fund with the cost of investing in other mutual funds.

Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:

Expense Example (USD $)
Retail
Fidelity Latin America Fund
Class: Fidelity Latin America Fund
1 year 102
3 years 318
5 years 552
10 years 1,225
Portfolio Turnover
The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 11% of the average value of its portfolio.
Principal Investment Strategies
  • Normally investing at least 80% of assets in securities of Latin American issuers and other investments that are tied economically to Latin America.
  • Normally investing primarily in common stocks.
  • Allocating investments across different Latin American countries.
  • Investing up to 35% of total assets in any industry that accounts for more than 20% of the Latin American market.
  • 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.
Principal Investment Risks
  • Stock Market Volatility. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market can react differently to these developments.
  • Foreign Exposure. Foreign markets, particularly emerging markets, can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. Emerging markets can be subject to greater social, economic, regulatory, and political uncertainties and can be extremely volatile.
  • Geographic Concentration in Latin America. Because Fidelity Management & Research Company (FMR) concentrates the fund's investments in Latin America, the fund's performance is expected to be closely tied to social, political, and economic conditions within Latin America and to be more volatile than the performance of more geographically diversified funds. In addition, because FMR may invest a significant percentage of the fund's assets in certain industries, the fund's performance could be affected to the extent that the particular industry or industries in which the fund invests are sensitive to adverse social, political, economic, currency, or regulatory developments.
  • Issuer-Specific Changes. The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole.

In addition, the fund is considered non-diversified and can invest a greater portion of assets in securities of a smaller number of individual issuers than a diversified fund. As a result, changes in the market value of a single investment could cause greater fluctuations in share price than would occur in a more diversified fund.

An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund.

Performance

The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index over various periods of time. The index description appears in the Additional Information about the Indexes section of the prospectus. Past performance (before and after taxes) is not an indication of future performance.

Visit www.fidelity.com for updated return information.

Year-by-Year Returns

Calendar Years

Bar Chart
During the periods shown in the chart:
Returns
Quarter ended
Highest Quarter Return36.89%June 30, 2009
Lowest Quarter Return-35.24%December 31, 2008
Year-to-Date Return-23.21%September 30, 2011
Average Annual Returns
After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement.
For the periods ended
December 31, 2010
Average Annual Total Returns Retail Fidelity Latin America Fund
Past 1 year
Past 5 years
Past 10 years
Return Before Taxes Class: Fidelity Latin America Fund
16.49% 16.00% 18.95%
Return After Taxes on Distributions Class: Fidelity Latin America Fund
16.22% 15.72% 18.59%
Return After Taxes on Distributions and Sale of Fund Shares Class: Fidelity Latin America Fund
11.33% 14.20% 17.28%
MSCI® EM (Emerging Markets) Latin America Index (reflects no deduction for fees, expenses, or taxes)
14.89% 19.83% 21.41%