497 1 filing918.htm PRIMARY DOCUMENT

Supplement to the
Fidelity® Europe Fund
Class A, Class M, Class C, Class I and Class Z
December 30, 2020
Prospectus 

The following information replaces similar information found in the "Fund Summary" section under the heading "Portfolio Manager(s)".

Andrew Sergeant (lead portfolio manager) has managed the fund since June 2018.

Allyson Ke (co-manager) has managed the fund since October 2021.

Faris Rahman (co-manager) has managed the fund since October 2021.

It is expected that Mr. Sergeant will transition off of the fund effective on or about June 30, 2022.

The following information replaces the biographical information found in the "Fund Management" section under the heading "Portfolio Manager(s)".

Andrew Sergeant is lead portfolio manager of the fund, which he has managed since June 2018. He also manages other funds. Since joining Fidelity Investments in 2004, Mr. Sergeant has worked as an analyst and portfolio manager.

Allyson Ke is co-manager of the fund, which she has managed since October 2021. Since joining Fidelity Investments in 2011, Ms. Ke has worked as research analyst and portfolio manager.

Faris Rahman is co-manager of the fund, which he has managed since October 2021. Since joining Fidelity Investments in 2012, Mr. Rahman has worked as research analyst and portfolio manager.

It is expected that Mr. Sergeant will transition off of the fund effective on or about June 30, 2022.


AEUF-21-01
1.9858205.114
October 8, 2021

Supplement to the
Fidelity's Targeted International Equity Funds®
December 30, 2020
Prospectus 

The "Debt Securities" information has been removed from the "Investment Details" section under the "Description of Principal Security Types" heading.

Effective February 1, 2021, the following information supplements similar information for Fidelity® China Region Fund found in the "Fund Summary" section under the heading "Portfolio Manager(s)".

Peifang Sun (co-manager) has managed the fund since February 2021.

It is expected that Mr. Lieu will transition off of the fund effective on or about August 1, 2021.

The following information replaces similar information for Fidelity® Emerging Markets Fund found in the "Fund Summary" section under the heading "Principal Investment Risks".

  • Geographic Concentration in China. Because the fund concentrates its investments in China, the fund's performance is expected to be closely tied to social, political, and economic conditions in China and to be more volatile than the performance of more geographically diversified funds.

The following information replaces similar information for Fidelity® Emerging Markets Fund found in the "Fund Summary" section under the heading "Performance".

Year-by-Year Returns

Image

During the periods shown in the chart: Returns Quarter ended
Highest Quarter Return 23.85% June 30, 2020
Lowest Quarter Return (24.04)% September 30, 2011
Year-to-Date Return 1.86% March 31, 2021


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, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan). 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, 2020 Past 1 year Past 5 years Past 10 years
Fidelity® Emerging Markets Fund
Return Before Taxes 32.54% 17.23% 6.64%
Return After Taxes on Distributions 32.23% 17.07% 6.58%
Return After Taxes on Distributions and Sale of Fund Shares 19.69% 14.06% 5.46%
MSCI Emerging Markets Index
(reflects no deduction for fees or expenses)
18.32% 12.84% 3.67%


The following information replaces similar information for Fidelity® Europe Fund found in the “Fund Summary” section under the heading “Portfolio Manager(s)”.

Andrew Sergeant (lead portfolio manager) has managed the fund since June 2018.

Allyson Ke (co-manager) has managed the fund since October 2021.

Faris Rahman (co-manager) has managed the fund since October 2021.

It is expected that Mr. Sergeant will transition off of the fund effective on or about June 30, 2022.

The following information replaces similar information for Fidelity® Nordic Fund found in the “Fund Summary” section under the heading "Portfolio Manager(s)".

Andrew Sergeant (lead portfolio manager) has managed the fund since June 2018.

Allyson Ke (co-manager) has managed the fund since October 2021.

Faris Rahman (co-manager) has managed the fund since October 2021.

It is expected that Mr. Sergeant will transition off of the fund effective on or about June 30, 2022.

Effective February 1, 2021, the following information supplements similar information for Fidelity® Pacific Basin Fund found in the "Fund Summary" section under the heading "Portfolio Manager(s)".

Stephen Lieu (co-manager) has managed the fund since February 2021.

It is expected that Mr. MacDonald will retire effective on or about December 31, 2021. At that time, Mr. Lieu will assume co-manager responsibilities for Mr. MacDonald’s portion the fund’s assets.

Effective February 1, 2021, the following information supplements the biographical information for Fidelity® China Region Fund and Fidelity® Pacific Basin Fund found in the "Fund Management" section under the heading "Portfolio Manager(s)".

Peifang Sun is co-manager of Fidelity® China Region Fund, which she has managed since February 2021. Since joining Fidelity Investments in 2008, Ms. Sun has worked as a Research Analyst and portfolio manager.

It is expected that Mr. Lieu will transition off of Fidelity® China Region Fund effective on or about August 1, 2021.

Stephen Lieu is co-manager of Fidelity® Pacific Basin Fund, which he has managed since February 2021. Since joining Fidelity Investments in 2013, Mr. Lieu has worked as a summer intern, research analyst, and portfolio manager.

It is expected that Mr. MacDonald will retire effective on or about December 31, 2021. At that time, Mr. Lieu will assume co-manager responsibilities for Mr. MacDonald’s portion Fidelity® Pacific Basin Fund’s assets.

The following information supplements the biographical information for Fidelity® Europe Fund and Fidelity® Nordic Fund found in the "Fund Management" section under the heading "Portfolio Manager(s)".

Andrew Sergeant is lead portfolio manager of Fidelity® Europe Fund, which he has managed since June 2018 and lead portfolio manager of Fidelity® Nordic Fund, which he has managed since June 2018. He also manages other funds. Since joining Fidelity Investments in 2004, Mr. Sergeant has worked as an analyst and portfolio manager.

Allyson Ke is co-manager of Fidelity® Europe Fund, which she has managed since October 2021 and co-manager of Fidelity® Nordic Fund, which she has managed since October 2021. Since joining Fidelity Investments in 2011, Ms. Ke has worked as research analyst and portfolio manager.

Faris Rahman is co-manager of Fidelity® Europe Fund, which he has managed since October 2021 and co-manager of Fidelity® Nordic Fund, which he has managed since October 2021. Since joining Fidelity Investments in 2012, Mr. Rahman has worked as research analyst and portfolio manager.

It is expected that Mr. Sergeant will transition off of Fidelity® Europe Fund and Fidelity® Nordic Fund effective on or about June 30, 2022.


TIF-21-03
1.483702.206
October 8, 2021