Sectorial split

Not available

Factsheet

SRRI risk indicator ²

Investment policy

Objectives Investment objective The fund aims to achieve capital growth over time and provide income. Investment policy The fund invests at least 70% of its assets, in emerging market debt securities issued by governments, quasi governments, banks, financial institutions and corporate entities. The fund may also invest in other types of debt securities, equity securities, lower quality debt securities and on an ancillary basis in money market instruments.The fund may invest in the following assets according to the percentages indicated: Listed China onshore bonds (directly and/or indirectly): less than 30% (in aggregate) hybrids and contingent convertible (CoCo) bonds: less than 30%, with CoCos less than 20% The fund may also invest in other subordinated financial debt and preference shares. The fund is unconstrained in the amount that it may invest in below investment grade securities or issuers. The fund’s exposure to distressed securities is limited to 10% of its assets. Investment approach In actively managing the fund, the Investment Manager uses in-house research and investment capabilities to identify suitable opportunities across bond issuers, sectors, geographies, and security types. This may include an assessment of bond issuers’ creditworthiness, macroeconomic factors, and valuations. The Investment Manager considers ESG factors when assessing investment risks and opportunities. In determining ESG factors, the Investment Manager takes into account ESG ratings provided by Fidelity or external agencies. The fund aims to achieve an ESG score of its portfolio greater than that of its benchmark. Through the investment management process the Investment Manager aims to ensure that investee issuers and countries follow good governance practices. For more information, see “Sustainable Investing and ESG Integration” and the Sustainability Annex. Derivatives policy The fund may use derivatives for hedging, efficient portfolio management and investment purposes. Benchmark J.P. Morgan Emerging Markets Bond Index - Global Diversified, a broad market index that does not take into account ESG characteristics. Used for: risk monitoring, investment selection and performance comparison. The fund invests in securities of the benchmark, however, the management of the fund is discretionary, therefore the fund may invest in securities not included in the benchmark, and its performance over any period may or may not deviate significantly from that of the benchmark. Distribution policy As this is a non-distributing share class, dividends are reinvested. Base Currency USD Risk Management Method: Commitment. Further information You may sell (redeem) or switch some or all of your shares to another fund on any Valuation Day. This key information document describes a sub-fund of Fidelity Funds. A separate pool of assets is invested and maintained for each sub-fund of Fidelity Funds. The assets and liabilities of the fund are segregated from those of other sub-funds and there is no cross-liability among the sub-funds. For more information, please consult the prospectus and latest reports and accounts which can be obtained free of charge in English and other main languages from the Management Company. These documents and details of the Remuneration Policy are available via www.fidelityinternational.com. The Net Asset Value of the fund is available at the registered office of the Management Company, and at www.fidelityinternational.com.The representative and paying agent of the Fidelity in Switzerland is BNP PARIBAS, Paris ,Zurich branch, Selnaustrasse 16, CH-8002 Zurich. The prospectus, the articles of association, the annual and semi-annual reports, the key information documents may be obtained free of charge from the representative in Switzerland. Depositary Brown Brothers Harriman (Luxembourg) S.C.A.

The investment policy of the fund is extracted from the KIID