Fidelity Funds Product Key Facts

Transcription

1 Fidelity Funds Product Key Facts

2 Table of Contents: Equity Funds Fidelity Funds America Fund...1 Fidelity Funds American Diversified Fund...4 Fidelity Funds American Growth Fund...7 Fidelity Funds ASEAN Fund...10 Fidelity Funds Asian Aggressive Fund...13 Fidelity Funds Asian Smaller Companies Fund...17 Fidelity Funds Asian Special Situations Fund...21 Fidelity Funds Asia Pacific Property Fund...25 Fidelity Funds Australia Fund...28 Fidelity Funds China Consumer Fund...31 Fidelity Funds China Focus Fund...35 Fidelity Funds China Opportunities Fund...39 Fidelity Funds Emerging Asia Fund...43 Fidelity Funds Emerging Europe, Middle East and Africa Fund...47 Fidelity Funds Emerging Markets Fund...51 Fidelity Funds Euro Blue Chip Fund...55 Fidelity Funds EURO STOXX 50 Fund...58 Fidelity Funds European Aggressive Fund...61 Fidelity Funds European Value Fund...64 Fidelity Funds European Growth Fund...67 Fidelity Funds European Larger Companies Fund...70 Fidelity Funds European Dynamic Growth Fund...73 Fidelity Funds European Smaller Companies Fund...76 Fidelity Funds France Fund...79 Fidelity Funds Germany Fund...82 Fidelity Funds Global Consumer Industries Fund...86 Fidelity Funds Global Demographics Fund...89 Fidelity Funds Global Financial Services Fund...92 Fidelity Funds Global Focus Fund...95 Fidelity Funds Global Health Care Fund...98 Fidelity Funds Global Industrials Fund Fidelity Funds Global Property Fund Fidelity Funds Global Real Asset Securities Fund Fidelity Funds Global Opportunities Fund Fidelity Funds Global Technology Fund Fidelity Funds Global Telecommunications Fund Fidelity Funds Greater China Fund Fidelity Funds Iberia Fund Fidelity Funds India Focus Fund Fidelity Funds Indonesia Fund Fidelity Funds International Fund Fidelity Funds Italy Fund Fidelity Funds Japan Fund Fidelity Funds Japan Advantage Fund Fidelity Funds Japan Aggressive Fund Fidelity Funds Japan Smaller Companies Fund Fidelity Funds Latin America Fund Fidelity Funds Malaysia Fund Fidelity Funds Nordic Fund Fidelity Funds Pacific Fund Fidelity Funds Singapore Fund Fidelity Funds South East Asia Fund Fidelity Funds Switzerland Fund Fidelity Funds Taiwan Fund Fidelity Funds Thailand Fund Fidelity Funds United Kingdom Fund Fidelity Funds World Fund Fidelity Funds Asia Pacific Dividend Fund Fidelity Funds Enhanced Global Dividend Fund Fidelity Funds European Dividend Fund Fidelity Funds Global Dividend Fund Asset Allocation Funds Fidelity Funds Fidelity Portfolio Selector Global Growth Fund Balanced Funds Fidelity Funds Euro Balanced Fund Fidelity Funds Global Multi Asset Income Fund Fidelity Funds Growth & Income Fund Bond Funds Fidelity Funds Asian Bond Fund Fidelity Funds Asian High Yield Fund Fidelity Funds Emerging Market Debt Fund Fidelity Funds Euro Bond Fund Fidelity Funds Euro Corporate Bond Fund Fidelity Funds European High Yield Fund Fidelity Funds Euro Short Term Bond Fund Fidelity Funds Global High Grade Income Fund Fidelity Funds Global Income Fund Fidelity Funds Global Inflation-linked Bond Fund Fidelity Funds International Bond Fund Fidelity Funds Sterling Bond Fund Fidelity Funds US Dollar Bond Fund Fidelity Funds US High Yield Fund Cash Funds Fidelity Funds Euro Cash Fund Fidelity Funds US Dollar Cash Fund Fidelity Lifestyle Funds Fidelity Funds Fidelity Target 2020 Fund Fidelity Funds Fidelity Target 2025 (Euro) Fund Fidelity Funds Fidelity Target 2030 (Euro) Fund Institutional Reserved Funds Fidelity Funds Institutional Asia Pacific (ex-japan) Fund Fidelity Funds Institutional Asia Pacific (ex-japan) Opportunities Fund Fidelity Funds Institutional Emerging Markets Equity Fund Fidelity Funds Institutional Euro Blue Chip Fund Fidelity Funds Institutional Hong Kong Opportunities Fund Fidelity Funds Institutional Japan Fund Fidelity Funds Institutional European Larger Companies Fund Product Key Facts: Fidelity Funds December 2014

3 PRODUCT KEY FACTS Fidelity Funds - America Fund FIL Investment Management (Luxembourg) S.A. (as Management Company) December 2014 This statement provides you with key information about this product. This statement is part of the Hong Kong Prospectus. You should not invest in this product based on this statement alone. Quick facts Management Company: FIL Investment Management (Luxembourg) S.A. Investment Manager: FIL Fund Management Limited (Bermuda, internal delegation) Investment Advisor: FIL Investments International (United Kingdom, internal delegation) Depositary: Brown Brothers Harriman (Luxembourg) S.C.A. Ongoing charges over a year^: Class A-USD: 1.89% Class A-ACC-AUD (hedged): 1.93% Class A-Euro: 1.89% Class Y-ACC-USD: 1.14% Class A-ACC-USD: 1.89% ^ The ongoing charge figure for each class of shares is based on ongoing expenses chargeable to the relevant class for the year ended 30 April 2014 expressed as a percentage of the average net asset value of the relevant class for the same period. This figure may vary from year to year. Dealing frequency: Daily Base currency: USD Dividend policy *: Class A Subject to the Board's discretion, dividends will be declared annually normally on the first business day of August and will be paid accordingly. Class A-ACC, Class A-ACC (hedged) & Class Y-ACC No dividends will be paid for accumulating shares. All interest and other income earned on the investment will be retained in the fund. * Unless otherwise stated, dividends will not be paid out of capital and/or effectively out of capital. Financial year end of this fund: 30 April Minimum investment: Initial Investment Subsequent Investment Class A USD 2,500 USD 1,000 Class Y USD 1,000,000 USD 1,000 What is this product? Fidelity Funds is an open-ended investment company established in Luxembourg and regulated by the Commission de Surveillance du Secteur Financier (CSSF). Objectives and investment policy The fund is an Equity fund and aims to provide long-term capital growth with the level of income expected to be low. At least 70% of the fund's net asset value (and normally 75%) will be invested in US equity securities. For the remaining assets, the Investment Manager has the freedom to invest outside the fund s principal geographies, market sectors, industries or asset classes. In selecting securities for the fund, several factors are considered in the investment process; for example, consideration may include, but is not limited to, a company s financials, including revenue and profit growth, return on capital, cash flows and other financial measures. In addition, company management, industry and economic environment, and other factors may be considered in the investment process. The fund may use financial derivative instruments provided (a) they are economically appropriate in that they are realised in a cost-effective way, (b) they are entered into for one or more of (i) reduction of risk, (ii) reduction of cost and (iii) generation of additional capital or income for the fund with a level of risk which is consistent with the risk profile of the fund and the risk diversification rules laid down in part V. (5.1, A. III) of the Hong Kong Prospectus, and (c) their risks are adequately captured by the risk management process of the fund. Financial derivative instruments may include over-the-counter and/or exchange traded options, equity index and single stock futures, contracts for difference, forward contracts or a combination thereof. The fund will not make extensive use of financial derivative instruments for investment purposes or use complex derivative instruments or strategies to meet the investment objectives of the fund. 1

4 Fidelity Funds - America Fund The fund will not invest more than 10% of their net asset value in securities issued by or guaranteed by any single country (including its government, a public or local authority of that country) with a credit rating below investment grade. What are the key risks? Investment involves risks. Please refer to the Hong Kong Prospectus for details including the risk factors. Investment Risk The fund is an investment fund. The fund s investment portfolio may fall in value and therefore your investment in the fund may suffer losses. There is no assurance that the strategy employed by the fund will be successful and therefore the investment objectives of the fund may not be achieved. Equities The value of stocks may fluctuate, sometimes dramatically, in response to the activities and results of individual companies or because of general market and economic conditions or other events. Country Concentration The fund s investments are concentrated in the United States and will have greater exposure to market, political, legal, economic and social risks of the United States than a fund which diversifies country risk across a number of countries, and the value of the fund may be more volatile than a fund which diversifies across a larger number of investments. Foreign Currency Risk The fund s total return and balance sheet can be significantly affected by foreign exchange rate movements where the fund s assets and income are denominated in currencies other than the base currency of the fund and this means that currency movements may significantly affect the value of the fund s share price. Financial Derivative Instruments Although the fund will not make extensive use of financial derivative instruments for investment purposes or use complex derivative instruments or strategies to meet the investment objectives of the fund, the use of financial derivative instruments may give rise to leverage, liquidity, counterparty and valuations risks at times. In adverse situations, the fund s use of derivative instruments may become ineffective and the fund may suffer significant losses. How has the fund performed? (%) Past performance information is not indicative of future performance. Investors may not get back the full amount invested. The computation basis of the performance is based on the calendar year end, NAV-to-NAV, with dividend reinvested. These figures show by how much the Class A-USD increased or decreased in value during the calendar year being shown. Performance data has been calculated in USD including ongoing charges and excluding any subscription fees and redemption fees you might have to pay. When no past performance is shown there was insufficient data available in that year to provide performance. Fund launch date: 1990 Class A-USD launch date: 1990 Class A-USD is selected as the most appropriate representative share class as it has the longest track record and is denominated in the fund s reference currency. Is there any guarantee? This fund does not have any guarantees. You may not get back the full amount of money you invested. 2

5 Fidelity Funds - America Fund What are the fees and charges? Charges which may be payable by you You have to pay the following fees when dealing in shares of the fund: Subscription Fee Switching Fee Redemption Fee Class A Up to 5.25% of NAV Class Y 0% Generally up to 1% of NAV, except if you are switching from one class with no subscription fee into a class with subscription fee, you will have to pay for a switching fee of up to 5.25% of NAV Ongoing fees payable by the fund The following expenses will have to be paid out of the fund. They affect you because they reduce the return you get on your investments: Management Fee* Depositary Fee Performance Fee Administration Fee Class A Up to 1.50% p.a. of NAV Class Y Up to 0.75% p.a. of NAV Varies from 0.003% to 0.35% of NAV Up to 0.35% of NAV * The management fee can be increased to a maximum annual rate of 2% of the net asset value of the fund. In the event of such increase, not less than 3 months notice will be given to you. Other Fees You may have to pay other fees when dealing in shares of the fund. Any other fees and charges are described in the Hong Kong Prospectus. You should note that some fees may be increased, up to a specified permitted maximum, by giving shareholders at least one month s prior notice. For details, please refer to the Hong Kong Prospectus. Additional Information You generally buy, redeem or switch shares at the fund s next-determined net asset value after we receive your request, directly or via a distributor, in good order at or before 4.00 p.m., being the fund s dealing cut-off time. Before placing your orders, please check with your distributor for the distributor s internal dealing cut-off time (which may be earlier than the fund s dealing cut-off time). The net asset value of this fund is calculated and the price of shares is published each business day. Net asset value of the fund will be published in the South China Morning Post and the Hong Kong Economic Times. Investors may obtain information on the intermediaries from the Fidelity Investor Hotline: Important If you are in doubt, you should seek professional advice. The SFC takes no responsibility for the contents of this statement and makes no representation as to its accuracy or completeness. 3

6 PRODUCT KEY FACTS Fidelity Funds - American Diversified Fund FIL Investment Management (Luxembourg) S.A. (as Management Company) December 2014 This statement provides you with key information about this product. This statement is part of the Hong Kong Prospectus. You should not invest in this product based on this statement alone. Quick facts Management Company: FIL Investment Management (Luxembourg) S.A. Investment Manager: FIL Fund Management Limited (Bermuda, internal delegation) Investment Advisor: FIL Investments International (United Kingdom, internal delegation) Depositary: Brown Brothers Harriman (Luxembourg) S.C.A. Ongoing charges over a year^: Class A-USD: 1.93% ^ The ongoing charge figure for each class of shares is based on ongoing expenses chargeable to the relevant class for the year ended 30 April 2014 expressed as a percentage of the average net asset value of the relevant class for the same period. This figure may vary from year to year. Dealing frequency: Daily Base currency: USD Dividend policy *: Class A Subject to the Board's discretion, dividends will be declared annually normally on the first business day of August and will be paid accordingly. * Unless otherwise stated, dividends will not be paid out of capital and/or effectively out of capital. Financial year end of this fund: 30 April Minimum investment: Initial Investment Subsequent Investment Class A USD 2,500 USD 1,000 What is this product? Fidelity Funds is an open-ended investment company established in Luxembourg and regulated by the Commission de Surveillance du Secteur Financier (CSSF). Objectives and investment policy The fund is an Equity fund and aims to provide long-term capital growth with the level of income expected to be low. At least 70% of the fund's net asset value (and normally 75%) will be invested in US equity securities of small, medium and large capitalized companies. For the remaining assets, the Investment Manager has the freedom to invest outside the fund s principal geographies, market sectors, industries or asset classes. In selecting securities for the fund, several factors are considered in the investment process; for example, consideration may include, but is not limited to, a company s financials, including revenue and profit growth, return on capital, cash flows and other financial measures. In addition, company management, industry and economic environment, and other factors may be considered in the investment process. The fund may use financial derivative instruments provided (a) they are economically appropriate in that they are realised in a cost-effective way, (b) they are entered into for one or more of (i) reduction of risk, (ii) reduction of cost and (iii) generation of additional capital or income for the fund with a level of risk which is consistent with the risk profile of the fund and the risk diversification rules laid down in part V. (5.1, A. III) of the Hong Kong Prospectus, and (c) their risks are adequately captured by the risk management process of the fund. Financial derivative instruments may include over-the-counter and/or exchange traded options, equity index and single stock futures, contracts for difference, forward contracts or a combination thereof. The fund will not make extensive use of financial derivative instruments for investment purposes or use complex derivative instruments or strategies to meet the investment objectives of the fund. The fund will not invest more than 10% of their net asset value in securities issued by or guaranteed by any single country (including its government, a public or local authority of that country) with a credit rating below investment grade. 4

7 What are the key risks? Investment involves risks. Please refer to the Hong Kong Prospectus for details including the risk factors. Investment Risk The fund is an investment fund. The fund s investment portfolio may fall in value and therefore your investment in the fund may suffer losses. There is no assurance that the strategy employed by the fund will be successful and therefore the investment objectives of the fund may not be achieved. Equities The value of stocks may fluctuate, sometimes dramatically, in response to the activities and results of individual companies or because of general market and economic conditions or other events. Country Concentration The fund s investments are concentrated in the United States and will have greater exposure to market, political, legal, economic and social risks of the United States than a fund which diversifies country risk across a number of countries, and the value of the fund may be more volatile than a fund which diversifies across a larger number of investments. Foreign Currency Risk The fund s total return and balance sheet can be significantly affected by foreign exchange rate movements where the fund s assets and income are denominated in currencies other than the base currency of the fund and this means that currency movements may significantly affect the value of the fund s share price. Financial Derivative Instruments Fidelity Funds - American Diversified Fund Although the fund will not make extensive use of financial derivative instruments for investment purposes or use complex derivative instruments or strategies to meet the investment objectives of the fund, the use of financial derivative instruments may give rise to leverage, liquidity, counterparty and valuations risks at times. In adverse situations, the fund s use of derivative instruments may become ineffective and the fund may suffer significant losses. How has the fund performed? (%) Past performance information is not indicative of future performance. Investors may not get back the full amount invested. The computation basis of the performance is based on the calendar year end, NAV-to-NAV, with dividend reinvested. These figures show by how much the Class A-USD increased or decreased in value during the calendar year being shown. Performance data has been calculated in USD including ongoing charges and excluding any subscription fees and redemption fees you might have to pay. When no past performance is shown there was insufficient data available in that year to provide performance. Fund launch date: 2004 Class A-USD launch date: 2004 Class A-USD is selected as the most appropriate representative share class as it has the longest track record and is denominated in the fund s reference currency. Is there any guarantee? This fund does not have any guarantees. You may not get back the full amount of money you invested. 5

8 Fidelity Funds - American Diversified Fund What are the fees and charges? Charges which may be payable by you You have to pay the following fees when dealing in shares of the fund: Subscription Fee Switching Fee Redemption Fee Class A Up to 5.25% of NAV Generally up to 1% of NAV, except if you are switching from one class with no subscription fee into a class with subscription fee, you will have to pay for a switching fee of up to 5.25% of NAV Ongoing fees payable by the fund The following expenses will have to be paid out of the fund. They affect you because they reduce the return you get on your investments: Management Fee* Depositary Fee Performance Fee Administration Fee Class A Up to 1.50% p.a. of NAV Varies from 0.003% to 0.35% of NAV Up to 0.35% of NAV * The management fee can be increased to a maximum annual rate of 2% of the net asset value of the fund. In the event of such increase, not less than 3 months notice will be given to you. Other Fees You may have to pay other fees when dealing in shares of the fund. Any other fees and charges are described in the Hong Kong Prospectus. You should note that some fees may be increased, up to a specified permitted maximum, by giving shareholders at least one month s prior notice. For details, please refer to the Hong Kong Prospectus. Additional Information You generally buy, redeem or switch shares at the fund s next-determined net asset value after we receive your request, directly or via a distributor, in good order at or before 4.00 p.m., being the fund s dealing cut-off time. Before placing your orders, please check with your distributor for the distributor s internal dealing cut-off time (which may be earlier than the fund s dealing cut-off time). The net asset value of this fund is calculated and the price of shares is published each business day. Net asset value of the fund will be published in the South China Morning Post and the Hong Kong Economic Times. Investors may obtain information on the intermediaries from the Fidelity Investor Hotline: Important If you are in doubt, you should seek professional advice. The SFC takes no responsibility for the contents of this statement and makes no representation as to its accuracy or completeness. 6

9 PRODUCT KEY FACTS Fidelity Funds - American Growth Fund FIL Investment Management (Luxembourg) S.A. (as Management Company) December 2014 This statement provides you with key information about this product. This statement is part of the Hong Kong Prospectus. You should not invest in this product based on this statement alone. Quick facts Management Company: FIL Investment Management (Luxembourg) S.A. Investment Manager: FIL Fund Management Limited (Bermuda, internal delegation) Investment Advisor: FIL Investments International (United Kingdom, internal delegation) Depositary: Brown Brothers Harriman (Luxembourg) S.C.A. Ongoing charges over a year^: Class A-USD: 1.92% ^ The ongoing charge figure for each class of shares is based on ongoing expenses chargeable to the relevant class for the year ended 30 April 2014 expressed as a percentage of the average net asset value of the relevant class for the same period. This figure may vary from year to year. Dealing frequency: Daily Base currency: USD Dividend policy *: Class A Subject to the Board's discretion, dividends will be declared annually normally on the first business day of August and will be paid accordingly. * Unless otherwise stated, dividends will not be paid out of capital and/or effectively out of capital. Financial year end of this fund: 30 April Minimum investment: Initial Investment Subsequent Investment Class A USD 2,500 USD 1,000 What is this product? Fidelity Funds is an open-ended investment company established in Luxembourg and regulated by the Commission de Surveillance du Secteur Financier (CSSF). Objectives and investment policy The fund is an Equity fund and aims to provide long-term capital growth with the level of income expected to be low. At least 70% of the fund's net asset value (and normally 75%) will be invested in a focused portfolio of the shares of companies having their head office or main activities in the US. For the remaining assets, the Investment Manager has the freedom to invest outside the fund s principal geographies, market sectors, industries or asset classes. In selecting securities for the fund, several factors are considered in the investment process; for example, consideration may include, but is not limited to, a company s financials, including revenue and profit growth, return on capital, cash flows and other financial measures. In addition, company management, industry and economic environment, and other factors may be considered in the investment process. The fund may use financial derivative instruments provided (a) they are economically appropriate in that they are realised in a cost-effective way, (b) they are entered into for one or more of (i) reduction of risk, (ii) reduction of cost and (iii) generation of additional capital or income for the fund with a level of risk which is consistent with the risk profile of the fund and the risk diversification rules laid down in part V. (5.1, A. III) of the Hong Kong Prospectus, and (c) their risks are adequately captured by the risk management process of the fund. Financial derivative instruments may include over-the-counter and/or exchange traded options, equity index and single stock futures, contracts for difference, forward contracts or a combination thereof. The fund will not make extensive use of financial derivative instruments for investment purposes or use complex derivative instruments or strategies to meet the investment objectives of the fund. The fund will not invest more than 10% of their net asset value in securities issued by or guaranteed by any single country (including its government, a public or local authority of that country) with a credit rating below investment grade. 7

10 What are the key risks? Investment involves risks. Please refer to the Hong Kong Prospectus for details including the risk factors. Investment Risk The fund is an investment fund. The fund s investment portfolio may fall in value and therefore your investment in the fund may suffer losses. There is no assurance that the strategy employed by the fund will be successful and therefore the investment objectives of the fund may not be achieved. Equities The value of stocks may fluctuate, sometimes dramatically, in response to the activities and results of individual companies or because of general market and economic conditions or other events. Country Concentration The fund s investments are concentrated in the United States and will have greater exposure to market, political, legal, economic and social risks of the United States than a fund which diversifies country risk across a number of countries, and the value of the fund may be more volatile than a fund which diversifies across a larger number of investments. Foreign Currency Risk The fund s total return and balance sheet can be significantly affected by foreign exchange rate movements where the fund s assets and income are denominated in currencies other than the base currency of the fund and this means that currency movements may significantly affect the value of the fund s share price. Financial Derivative Instruments Fidelity Funds - American Growth Fund Although the fund will not make extensive use of financial derivative instruments for investment purposes or use complex derivative instruments or strategies to meet the investment objectives of the fund, the use of financial derivative instruments may give rise to leverage, liquidity, counterparty and valuations risks at times. In adverse situations, the fund s use of derivative instruments may become ineffective and the fund may suffer significant losses. How has the fund performed? (%) The performance of years prior to 2007 was achieved under circumstances that may no longer apply as the investment objective was changed in Past performance information is not indicative of future performance. Investors may not get back the full amount invested. The computation basis of the performance is based on the calendar year end, NAV-to-NAV, with dividend reinvested. These figures show by how much the Class A-USD increased or decreased in value during the calendar year being shown. Performance data has been calculated in USD including ongoing charges and excluding any subscription fees and redemption fees you might have to pay. When no past performance is shown there was insufficient data available in that year to provide performance. Fund launch date: 1997 Class A-USD launch date: 1997 Class A-USD is selected as the most appropriate representative share class as it has the longest track record and is denominated in the fund s reference currency. Is there any guarantee? This fund does not have any guarantees. You may not get back the full amount of money you invested. 8

11 Fidelity Funds - American Growth Fund What are the fees and charges? Charges which may be payable by you You have to pay the following fees when dealing in shares of the fund: Subscription Fee Switching Fee Redemption Fee Class A Up to 5.25% of NAV Generally up to 1% of NAV, except if you are switching from one class with no subscription fee into a class with subscription fee, you will have to pay for a switching fee of up to 5.25% of NAV Ongoing fees payable by the fund The following expenses will have to be paid out of the fund. They affect you because they reduce the return you get on your investments: Management Fee* Depositary Fee Performance Fee Administration Fee Class A Up to 1.50% p.a. of NAV Varies from 0.003% to 0.35% of NAV Up to 0.35% of NAV * The management fee can be increased to a maximum annual rate of 2% of the net asset value of the fund. In the event of such increase, not less than 3 months notice will be given to you. Other Fees You may have to pay other fees when dealing in shares of the fund. Any other fees and charges are described in the Hong Kong Prospectus. You should note that some fees may be increased, up to a specified permitted maximum, by giving shareholders at least one month s prior notice. For details, please refer to the Hong Kong Prospectus. Additional Information You generally buy, redeem or switch shares at the fund s next-determined net asset value after we receive your request, directly or via a distributor, in good order at or before 4.00 p.m., being the fund s dealing cut-off time. Before placing your orders, please check with your distributor for the distributor s internal dealing cut-off time (which may be earlier than the fund s dealing cut-off time). The net asset value of this fund is calculated and the price of shares is published each business day. Net asset value of the fund will be published in the South China Morning Post and the Hong Kong Economic Times. Investors may obtain information on the intermediaries from the Fidelity Investor Hotline: Important If you are in doubt, you should seek professional advice. The SFC takes no responsibility for the contents of this statement and makes no representation as to its accuracy or completeness. 9

12 PRODUCT KEY FACTS Fidelity Funds - ASEAN Fund FIL Investment Management (Luxembourg) S.A. (as Management Company) December 2014 This statement provides you with key information about this product. This statement is part of the Hong Kong Prospectus. You should not invest in this product based on this statement alone. Quick facts Management Company: FIL Investment Management (Luxembourg) S.A. Investment Manager: FIL Fund Management Limited (Bermuda, internal delegation) Investment Advisor: FIL Investment Management (Singapore) Limited (Singapore, internal delegation) Depositary: Brown Brothers Harriman (Luxembourg) S.C.A. Ongoing charges over a year^: Class A-USD: 1.96% Class A-ACC-AUD (hedged): 2.00%+ Class A-ACC-USD: 1.97% Class Y-ACC-USD: 1.21% Class A-ACC-HKD: 1.96% ^ The ongoing charge figure for each class of shares is based on ongoing expenses chargeable to the relevant class for the year ended 30 April 2014 expressed as a percentage of the average net asset value of the relevant class for the same period. This figure may vary from year to year. + This share class was recently launched and therefore this figure is an estimate only representing the sum of the estimated ongoing expenses chargeable to the relevant class of share of the fund over a 12 month period expressed as a percentage of the estimated average net asset value of the relevant class for the same period. This figure may vary from year to year. Dealing frequency: Daily Base currency: USD Dividend policy *: Class A Subject to the Board's discretion, dividends will be declared annually normally on the first business day of August and will be paid accordingly. Class A-ACC, Class A-ACC (hedged) & Class Y-ACC No dividends will be paid for accumulating shares. All interest and other income earned on the investment will be retained in the fund. * Unless otherwise stated, dividends will not be paid out of capital and/or effectively out of capital. Financial year end of this fund: 30 April Minimum investment: Initial Investment Subsequent Investment Class A USD 2,500 USD 1,000 Class Y USD 1,000,000 USD 1,000 What is this product? Fidelity Funds is an open-ended investment company established in Luxembourg and regulated by the Commission de Surveillance du Secteur Financier (CSSF). Objectives and investment policy The fund is an Equity fund and aims to provide long-term capital growth with the level of income expected to be low. At least 70% of the fund's net asset value (and normally 75%) will be invested in equity securities quoted on the stock exchanges of Singapore, Malaysia, Thailand, Philippines and Indonesia. For the remaining assets, the Investment Manager has the freedom to invest outside the fund s principal geographies, market sectors, industries or asset classes. In selecting securities for the fund, several factors are considered in the investment process; for example, consideration may include, but is not limited to, a company s financials, including revenue and profit growth, return on capital, cash flows and other financial measures. In addition, company management, industry and economic environment, and other factors may be considered in the investment process. 10

13 The fund may use financial derivative instruments provided (a) they are economically appropriate in that they are realised in a cost-effective way, (b) they are entered into for one or more of (i) reduction of risk, (ii) reduction of cost and (iii) generation of additional capital or income for the fund with a level of risk which is consistent with the risk profile of the fund and the risk diversification rules laid down in part V. (5.1, A. III) of the Hong Kong Prospectus, and (c) their risks are adequately captured by the risk management process of the fund. Financial derivative instruments may include over-the-counter and/or exchange traded options, equity index and single stock futures, contracts for difference, forward contracts or a combination thereof. The fund will not make extensive use of financial derivative instruments for investment purposes or use complex derivative instruments or strategies to meet the investment objectives of the fund. The fund will not invest more than 10% of their net asset value in securities issued by or guaranteed by any single country (including its government, a public or local authority of that country) with a credit rating below investment grade. What are the key risks? Investment involves risks. Please refer to the Hong Kong Prospectus for details including the risk factors. Investment Risk The fund is an investment fund. The fund s investment portfolio may fall in value and therefore your investment in the fund may suffer losses. There is no assurance that the strategy employed by the fund will be successful and therefore the investment objectives of the fund may not be achieved. Equities The value of stocks may fluctuate, sometimes dramatically, in response to the activities and results of individual companies or because of general market and economic conditions or other events. Emerging Markets This fund invests in emerging market securities (in particular securities in Singapore, Malaysia, Thailand, Philippines and Indonesia) and the price of these securities may be more volatile than those of securities in more developed markets. This volatility may stem from political and economic factors and be exacerbated by legal, trading liquidity, settlement, transfer of securities and currency factors. Although care is taken to understand and manage these risks, the fund and accordingly the shareholders in the fund will ultimately bear the risks associated with investing in these markets. Foreign Currency Risk The fund s total return and balance sheet can be significantly affected by foreign exchange rate movements where the fund s assets and income are denominated in currencies other than the base currency of the fund and this means that currency movements may significantly affect the value of the fund s share price. Financial Derivative Instruments Fidelity Funds - ASEAN Fund Although the fund will not make extensive use of financial derivative instruments for investment purposes or use complex derivative instruments or strategies to meet the investment objectives of the fund, the use of financial derivative instruments may give rise to leverage, liquidity, counterparty and valuations risks at times. In adverse situations, the fund s use of derivative instruments may become ineffective and the fund may suffer significant losses. How has the fund performed? (%) Past performance information is not indicative of future performance. Investors may not get back the full amount invested. The computation basis of the performance is based on the calendar year end, NAV-to-NAV, with dividend reinvested. These figures show by how much the Class A-USD increased or decreased in value during the calendar year being shown. Performance data has been calculated in USD including ongoing charges and excluding any subscription fees and redemption fees you might have to pay. When no past performance is shown there was insufficient data available in that year to provide performance. Fund launch date: 1990 Class A-USD launch date: 1990 Class A-USD is selected as the most appropriate representative share class as it has the longest track record and is denominated in the fund s reference currency. 11

14 Is there any guarantee? This fund does not have any guarantees. You may not get back the full amount of money you invested. Fidelity Funds - ASEAN Fund What are the fees and charges? Charges which may be payable by you You have to pay the following fees when dealing in shares of the fund: Subscription Fee Switching Fee Redemption Fee Class A Up to 5.25% of NAV Class Y 0% Generally up to 1% of NAV, except if you are switching from one class with no subscription fee into a class with subscription fee, you will have to pay for a switching fee of up to 5.25% of NAV Ongoing fees payable by the fund The following expenses will have to be paid out of the fund. They affect you because they reduce the return you get on your investments: Management Fee* Depositary Fee Performance Fee Administration Fee Class A Up to 1.50% p.a. of NAV Class Y Up to 0.75% p.a. of NAV Varies from 0.003% to 0.35% of NAV Up to 0.35% of NAV * The management fee can be increased to a maximum annual rate of 2% of the net asset value of the fund. In the event of such increase, not less than 3 months notice will be given to you. Other Fees You may have to pay other fees when dealing in shares of the fund. Any other fees and charges are described in the Hong Kong Prospectus. You should note that some fees may be increased, up to a specified permitted maximum, by giving shareholders at least one month s prior notice. For details, please refer to the Hong Kong Prospectus. Additional Information You generally buy, redeem or switch shares at the fund s next-determined net asset value after we receive your request, directly or via a distributor, in good order at or before 4.00 p.m., being the fund s dealing cut-off time. Before placing your orders, please check with your distributor for the distributor s internal dealing cut-off time (which may be earlier than the fund s dealing cut-off time). The net asset value of this fund is calculated and the price of shares is published each business day. Net asset value of the fund will be published in the South China Morning Post and the Hong Kong Economic Times. Investors may obtain information on the intermediaries from the Fidelity Investor Hotline: Important If you are in doubt, you should seek professional advice. The SFC takes no responsibility for the contents of this statement and makes no representation as to its accuracy or completeness. 12

15 PRODUCT KEY FACTS Fidelity Funds - Asian Aggressive Fund FIL Investment Management (Luxembourg) S.A. (as Management Company) December 2014 This statement provides you with key information about this product. This statement is part of the Hong Kong Prospectus. You should not invest in this product based on this statement alone. Quick facts Management Company: FIL Investment Management (Luxembourg) S.A. Investment Manager: FIL Fund Management Limited (Bermuda, internal delegation) Investment Advisor: FIL Investment Management (Singapore) Limited (Singapore, internal delegation) Depositary: Brown Brothers Harriman (Luxembourg) S.C.A. Ongoing charges over a year^: Class A-Euro: 2.01% Class A-ACC-Euro: 2.02% ^ The ongoing charge figure for each class of shares is based on ongoing expenses chargeable to the relevant class for the year ended 30 April 2014 expressed as a percentage of the average net asset value of the relevant class for the same period. This figure may vary from year to year. Dealing frequency: Daily Base currency: USD Dividend policy *: Class A Subject to the Board's discretion, dividends will be declared annually normally on the first business day of August and will be paid accordingly. Class A-ACC No dividends will be paid for accumulating shares. All interest and other income earned on the investment will be retained in the fund. * Unless otherwise stated, dividends will not be paid out of capital and/or effectively out of capital. Financial year end of this fund: 30 April Minimum investment: Initial Investment Subsequent Investment Class A USD 2,500 USD 1,000 What is this product? Fidelity Funds is an open-ended investment company established in Luxembourg and regulated by the Commission de Surveillance du Secteur Financier (CSSF). Objectives and investment policy The fund is an Equity fund and aims to provide long-term capital growth with the level of income expected to be low. At least 70% of the fund's net asset value will be invested in securities of companies that have their head office or main activities in countries of the Asia Pacific (excluding Japan) region. The fund will potentially invest up to 10% of its net asset value directly in China A and B shares, with aggregate exposure including direct and indirect investments up to 30% of its net asset value. The fund will have direct exposures to the China A Shares markets through the QFII quota which the fund has access to, or will have indirect exposures through financial instruments that invest in or are linked to the performance of China A Shares, e.g. via participation notes. The fund will invest in a limited number of securities, resulting in a reasonably concentrated portfolio. For the remaining assets, the Investment Manager has the freedom to invest outside the fund s principal geographies, market sectors, industries or asset classes. In selecting securities for the fund, several factors are considered in the investment process; for example, consideration may include, but is not limited to, a company s financials, including revenue and profit growth, return on capital, cash flows and other financial measures. In addition, company management, industry and economic environment, and other factors may be considered in the investment process. 13

16 Fidelity Funds - Asian Aggressive Fund The fund may use financial derivative instruments provided (a) they are economically appropriate in that they are realised in a cost-effective way, (b) they are entered into for one or more of (i) reduction of risk, (ii) reduction of cost and (iii) generation of additional capital or income for the fund with a level of risk which is consistent with the risk profile of the fund and the risk diversification rules laid down in part V. (5.1, A. III) of the Hong Kong Prospectus, and (c) their risks are adequately captured by the risk management process of the fund. Financial derivative instruments may include over-the-counter and/or exchange traded options, equity index and single stock futures, contracts for difference, forward contracts or a combination thereof. The fund will not make extensive use of financial derivative instruments for investment purposes or use complex derivative instruments or strategies to meet the investment objectives of the fund. The fund will not invest more than 10% of their net asset value in securities issued by or guaranteed by any single country (including its government, a public or local authority of that country) with a credit rating below investment grade. What are the key risks? Investment involves risks. Please refer to the Hong Kong Prospectus for details including the risk factors. Investment Risk The fund is an investment fund. The fund s investment portfolio may fall in value and therefore your investment in the fund may suffer losses. There is no assurance that the strategy employed by the fund will be successful and therefore the investment objectives of the fund may not be achieved. Equities The value of stocks may fluctuate, sometimes dramatically, in response to the activities and results of individual companies or because of general market and economic conditions or other events. QFII Risk The fund may invest in China A shares directly through the Qualified Foreign Institutional Investor ( QFII ) scheme and may incur losses due to limited investment opportunities, or may not be able to fully implement or pursue its investment objectives or strategy, due to QFII investment restrictions, illiquidity of the China A shares market, and/or delay or disruption in execution of trades or in settlement of trades. Equity Linked Notes Equity linked notes (ELNs) involve a counterparty structuring a note whose value is intended to move in line with the underlying security specified in the note. In the event that the counterparty (structurer of the note) defaults, the risk to the fund is to that of the counterparty, irrespective of the value of the underlying security within the note. The liquidity of an ELN can be less than that for the underlying security, a regular bond or debt instrument and this may adversely affect either the ability to sell the position or the price at which such a sale is transacted. Holdings Concentration At times, the fund will invest in a relatively small number of investments and will be concentrated in a specific industry sector and the net asset value of the fund may be more volatile as a result of this concentration of holdings relative to a fund which diversifies across a larger number of investments or sectors. Emerging Markets This fund invests in emerging market securities (in particular securities in Asia Pacific ex Japan countries) and the price of these securities may be more volatile than those of securities in more developed markets. This volatility may stem from political and economic factors and be exacerbated by legal, trading liquidity, settlement, transfer of securities and currency factors. Although care is taken to understand and manage these risks, the fund and accordingly the shareholders in the fund will ultimately bear the risks associated with investing in these markets. Financial Derivative Instruments Although the fund will not make extensive use of financial derivative instruments for investment purposes or use complex derivative instruments or strategies to meet the investment objectives of the fund, the use of financial derivative instruments may give rise to leverage, liquidity, counterparty and valuations risks at times. In adverse situations, the fund s use of derivative instruments may become ineffective and the fund may suffer significant losses. Foreign Currency Risk The fund s total return and balance sheet can be significantly affected by foreign exchange rate movements where the fund s assets and income are denominated in currencies other than the base currency of the fund and this means that currency movements may significantly affect the value of the fund s share price. 14

17 Fidelity Funds - Asian Aggressive Fund How has the fund performed? (%) The performance of years prior to 2014 was achieved under circumstances that may no longer apply as the investment objective were changed in 2013 and in Past performance information is not indicative of future performance. Investors may not get back the full amount invested. The computation basis of the performance is based on the calendar year end, NAV-to-NAV, with dividend reinvested. These figures show by how much the Class A-Euro increased or decreased in value during the calendar year being shown. Performance data has been calculated in Euro including ongoing charges and excluding any subscription fees and redemption fees you might have to pay. When no past performance is shown there was insufficient data available in that year to provide performance. Fund launch date: 2008 Class A-Euro launch date: 2008 Class A-Euro is selected as the most appropriate representative share class as it has the longest track record. Is there any guarantee? This fund does not have any guarantees. You may not get back the full amount of money you invested. What are the fees and charges? Charges which may be payable by you You have to pay the following fees when dealing in shares of the fund: Subscription Fee Switching Fee Redemption Fee Class A Up to 5.25% of NAV Generally up to 1% of NAV, except if you are switching from one class with no subscription fee into a class with subscription fee, you will have to pay for a switching fee of up to 5.25% of NAV Ongoing fees payable by the fund The following expenses will have to be paid out of the fund. They affect you because they reduce the return you get on your investments: Management Fee* Depositary Fee Performance Fee Administration Fee Class A Up to 1.50% p.a. of NAV Varies from 0.003% to 0.35% of NAV Up to 0.35% of NAV * The management fee can be increased to a maximum annual rate of 2% of the net asset value of the fund. In the event of such increase, not less than 3 months notice will be given to you. Other Fees You may have to pay other fees when dealing in shares of the fund. Any other fees and charges are described in the Hong Kong Prospectus. You should note that some fees may be increased, up to a specified permitted maximum, by giving shareholders at least one month s prior notice. For details, please refer to the Hong Kong Prospectus. 15