-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, RcaJTH4JHM0WYjx/qt6BhhlTZmViJWwyBQ/fSO5fgYxFGzlodqYhPM7r9ofb0gtW AVQZ8AxyuWO70OUODe3sVQ== 0000744822-08-000006.txt : 20080110 0000744822-08-000006.hdr.sgml : 20080110 20080110165303 ACCESSION NUMBER: 0000744822-08-000006 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 5 FILED AS OF DATE: 20080110 DATE AS OF CHANGE: 20080110 EFFECTIVENESS DATE: 20080110 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIDELITY INVESTMENT TRUST CENTRAL INDEX KEY: 0000744822 IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 002-90649 FILM NUMBER: 08524090 BUSINESS ADDRESS: STREET 1: 82 DEVONSHIRE ST CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6174391269 MAIL ADDRESS: STREET 1: 82 DEVONSHIRE STREET STREET 2: MAILZONE ZH-1 CITY: BOSTON STATE: MA ZIP: 02109 FORMER COMPANY: FORMER CONFORMED NAME: FIDELITY OVERSEAS FUND DATE OF NAME CHANGE: 19861228 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIDELITY INVESTMENT TRUST CENTRAL INDEX KEY: 0000744822 IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-04008 FILM NUMBER: 08524091 BUSINESS ADDRESS: STREET 1: 82 DEVONSHIRE ST CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6174391269 MAIL ADDRESS: STREET 1: 82 DEVONSHIRE STREET STREET 2: MAILZONE ZH-1 CITY: BOSTON STATE: MA ZIP: 02109 FORMER COMPANY: FORMER CONFORMED NAME: FIDELITY OVERSEAS FUND DATE OF NAME CHANGE: 19861228 0000744822 S000007093 Fidelity International Discovery Fund C000019407 Fidelity International Discovery Fund FIGRX C000019408 Fidelity Advisor International Discovery Fund: Class A FAIDX C000019409 Fidelity Advisor International Discovery Fund: Class B FADDX C000019410 Fidelity Advisor International Discovery Fund: Class C FCADX C000019411 Fidelity Advisor International Discovery Fund: Class T FTADX C000019412 Fidelity Advisor International Discovery Fund: Institutional Class FIADX 485BPOS 1 main.htm

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-1A

 

REGISTRATION STATEMENT (No. 002-90649)

 

UNDER THE SECURITIES ACT OF 1933

[X]

 

Pre-Effective Amendment No.

[ ]

 

Post-Effective Amendment No. 102

[X]

and

REGISTRATION STATEMENT (No. 811-04008)

 

UNDER THE INVESTMENT COMPANY ACT OF 1940

[X]

 

Amendment No. 102

[X]

 

Fidelity Investment Trust

(Exact Name of Registrant as Specified in Charter)

 

82 Devonshire St., Boston, Massachusetts 02109

(Address Of Principal Executive Offices) (Zip Code)

 

Registrant's Telephone Number: 617-563-7000

 

Eric D. Roiter, Secretary

82 Devonshire Street

Boston, Massachusetts 02109

(Name and Address of Agent for Service)

 

It is proposed that this filing will become effective on January 10, 2008 pursuant to paragraph (b) of Rule 485.

EXHIBIT INDEX

Users of this data are advised pursuant to the rules and regulations governing the filing of voluntary XBRL disclosure that the following XBRL documents are not the official publicly filed disclosure of Fidelity International Discovery Fund. The purpose of submitting these XBRL formatted documents is to test the related format and technology and, as a result, investors should continue to rely on the official version of the furnished documents and not rely on this information in making investment decisions.

Exhibit

Exhibit No.

XBRL Instance Document

EX-100.INS

XBRL Taxonomy Extension Schema Document

EX-100.SCH

XBRL Taxonomy Extension Labels Linkbase Document

EX-100.DEF

XBRL Taxonomy Extension Reference Linkbase Document

EX-100.REF

SIGNATURES

Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets all of the requirements for the effectiveness of this Registration Statement pursuant to Rule 485(b) under the Securities Act of 1933 and has duly caused this Post-Effective Amendment No. 102 to the Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Boston, and Commonwealth of Massachusetts, on the 10th day of January 2008.

 

Fidelity Investment Trust

 

By

/s/Kimberley Monasterio

 

||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||

 

Kimberley Monasterio, President

 

Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed below by the following persons in the capacities and on the dates indicated.

(Signature)

 

(Title)

(Date)

 

 

 

 

/s/Kimberley Monasterio

 

President and Treasurer

January 10, 2008

Kimberley Monasterio

 

(Principal Executive Officer)

 

 

 

 

 

/s/Joseph B. Hollis

 

Chief Financial Officer

January 10, 2008

Joseph B. Hollis

 

(Principal Financial Officer)

 

 

 

 

 

/s/Edward C. Johnson 3d

+

Trustee

January 10, 2008

Edward C. Johnson 3d

 

 

 

 

 

 

 

/s/James C. Curvey

*

Trustee

January 10, 2008

James C. Curvey

 

 

 

 

 

 

 

/s/Dennis J. Dirks

*

Trustee

January 10, 2008

Dennis J. Dirks

 

 

 

 

 

 

 

/s/Albert R. Gamper

*

Trustee

January 10, 2008

Albert R. Gamper

 

 

 

 

 

 

 

/s/George H. Heilmeier

*

Trustee

January 10, 2008

George H. Heilmeier

 

 

 

 

 

 

 

/s/James H. Keyes

*

Trustee

January 10, 2008

James H. Keyes

 

 

 

 

 

 

 

/s/Marie L. Knowles

*

Trustee

January 10, 2008

Marie L. Knowles

 

 

 

 

 

 

 

/s/Ned C. Lautenbach

*

Trustee

January 10, 2008

Ned C. Lautenbach

 

 

 

 

 

 

 

/s/Cornelia M. Small

*

Trustee

January 10, 2008

Cornelia M. Small

 

 

 

 

 

 

 

/s/William S. Stavropoulos

*

Trustee

January 10, 2008

William S. Stavropoulos

 

 

 

 

 

 

 

/s/Kenneth L. Wolfe

*

Trustee

January 10, 2008

Kenneth L. Wolfe

 

 

 

 

 

 

 

+ Signature affixed by Abigail P. Johnson, pursuant to a power of attorney dated April 1, 2007 and filed herewith.

* By: /s/Joseph R. Fleming
Joseph R. Fleming, pursuant to a power of attorney dated May 17, 2007 and filed herewith.

POWER OF ATTORNEY

I, the undersigned President and Director or Trustee, as the case may be, of the following investment companies:

 

Fidelity Aberdeen Street Trust

Fidelity Advisor Series I

Fidelity Advisor Series II

Fidelity Advisor Series IV

Fidelity Advisor Series VII

Fidelity Advisor Series VIII

Fidelity Beacon Street Trust

Fidelity Boylston Street Trust

Fidelity California Municipal Trust

Fidelity California Municipal Trust II

Fidelity Capital Trust

Fidelity Central Investment Portfolios LLC

Fidelity Charles Street Trust

Fidelity Colchester Street Trust

Fidelity Commonwealth Trust

Fidelity Concord Street Trust

Fidelity Congress Street Fund

Fidelity Contrafund

Fidelity Court Street Trust

Fidelity Court Street Trust II

Fidelity Covington Trust

Fidelity Destiny Portfolios

Fidelity Devonshire Trust

Fidelity Exchange Fund

Fidelity Financial Trust

Fidelity Fixed-Income Trust

Fidelity Garrison Street Trust

Fidelity Hanover Street Trust

Fidelity Hastings Street Trust

 

Fidelity Hereford Street Trust

Fidelity Income Fund

Fidelity Investment Trust

Fidelity Magellan Fund

Fidelity Massachusetts Municipal Trust

Fidelity Money Market Trust

Fidelity Mt. Vernon Street Trust

Fidelity Municipal Trust

Fidelity Municipal Trust II

Fidelity New York Municipal Trust

Fidelity New York Municipal Trust II

Fidelity Newbury Street Trust

Fidelity Oxford Street Trust

Fidelity Phillips Street Trust

Fidelity Puritan Trust

Fidelity Revere Street Trust

Fidelity School Street Trust

Fidelity Securities Fund

Fidelity Select Portfolios

Fidelity Summer Street Trust

Fidelity Trend Fund

Fidelity Union Street Trust

Fidelity Union Street Trust II

Variable Insurance Products Fund

Variable Insurance Products Fund II

Variable Insurance Products Fund III

Variable Insurance Products Fund IV

Variable Insurance Products Fund V

in addition to any other investment company for which Fidelity Management & Research Company or an affiliate acts as investment adviser and for which the undersigned individual serves as President and Director or Trustee, (collectively, the "Funds"), hereby revoke all previous powers of attorney I have given to sign and otherwise act in my name and behalf in matters involving the Funds and hereby constitute and appoint Abigail P. Johnson my true and lawful attorney-in-fact, with full power of substitution, and with full power to said attorney-in-fact to sign for me and in my name in the appropriate capacity, all Registration Statements of the Funds on Form N-1A, Form N-8A, Form N-14, or any successors thereto, any and all subsequent Amendments, Pre-Effective Amendments, or Post-Effective Amendments to said Registration Statements or any successors thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and on my behalf in connection therewith as said attorney-in-fact deems necessary or appropriate, to comply with the provisions of the Securities Act of 1933 and the Investment Company Act of 1940, and all related requirements of the Securities and Exchange Commission. I hereby ratify and confirm all that said attorney-in-fact or her substitutes may do or cause to be done by virtue hereof. This power of attorney is effective for all documents filed on or after April 1, 2007.

WITNESS my hand on the date set forth below.

/s/Edward C. Johnson 3d

April 1, 2007

Edward C. Johnson 3d

 

POWER OF ATTORNEY


We, the undersigned Directors or Trustees, as the case may be, of the following investment companies:

 

Fidelity Aberdeen Street Trust

Fidelity Advisor Series I

Fidelity Advisor Series II

Fidelity Advisor Series IV

Fidelity Advisor Series VII

Fidelity Advisor Series VIII

Fidelity Beacon Street Trust

Fidelity Boylston Street Trust

Fidelity California Municipal Trust

Fidelity California Municipal Trust II

Fidelity Capital Trust

Fidelity Central Investment Portfolios LLC

Fidelity Charles Street Trust

Fidelity Colchester Street Trust

Fidelity Commonwealth Trust

Fidelity Concord Street Trust

Fidelity Congress Street Fund

Fidelity Contrafund

Fidelity Court Street Trust

Fidelity Court Street Trust II

Fidelity Covington Trust

Fidelity Destiny Portfolios

Fidelity Devonshire Trust

Fidelity Exchange Fund

Fidelity Financial Trust

Fidelity Fixed-Income Trust

Fidelity Garrison Street Trust

Fidelity Hanover Street Trust

Fidelity Hastings Street Trust

 

Fidelity Hereford Street Trust

Fidelity Income Fund

Fidelity Investment Trust

Fidelity Magellan Fund

Fidelity Massachusetts Municipal Trust

Fidelity Money Market Trust

Fidelity Mt. Vernon Street Trust

Fidelity Municipal Trust

Fidelity Municipal Trust II

Fidelity New York Municipal Trust

Fidelity New York Municipal Trust II

Fidelity Newbury Street Trust

Fidelity Oxford Street Trust

Fidelity Phillips Street Trust

Fidelity Puritan Trust

Fidelity Revere Street Trust

Fidelity School Street Trust

Fidelity Securities Fund

Fidelity Select Portfolios

Fidelity Summer Street Trust

Fidelity Trend Fund

Fidelity Union Street Trust

Fidelity Union Street Trust II

Variable Insurance Products Fund

Variable Insurance Products Fund II

Variable Insurance Products Fund III

Variable Insurance Products Fund IV

Variable Insurance Products Fund V

plus any other investment company for which Fidelity Management & Research Company or an affiliate acts as investment adviser and for which the undersigned individuals serve as Directors or Trustees (collectively, the "Funds"), hereby revoke all previous powers of attorney we have given to sign and otherwise act in our names and behalf in matters involving the Funds and hereby constitute and appoint Joseph R. Fleming, John V. O'Hanlon, Robert W. Helm and Anthony H. Zacharski each of them singly, our true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for us and in our names in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, Form N-8A, Form N-14, or any successors thereto, any and all subsequent Amendments, Pre-Effective Amendments, or Post-Effective Amendments to said Registration Statements or any successors thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in our names and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933 and the Investment Company Act of 1940, and all related requirements of the Securities and Exchange Commission. We hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof. This power of attorney is effective for all documents filed on or after May 17, 2007.

WITNESS our hands on this seventeenth day of May 2007.

/s/James C. Curvey

/s/Marie L. Knowles

James C. Curvey

 

 

 

Marie L. Knowles

/s/Dennis J. Dirks

/s/Ned C. Lautenbach

Dennis J. Dirks

 

 

 

Ned C. Lautenbach

/s/Albert R. Gamper

/s/Cornelia M. Small

Albert R. Gamper

 

 

 

Cornelia M. Small

/s/George H. Heilmeier

/s/William S. Stavropoulos

George H. Heilmeier

 

 

 

William S. Stavropoulos

/s/James H. Keyes

/s/Kenneth L. Wolfe

James H. Keyes

 

 

 

Kenneth L. Wolfe

EX-100.SCH 3 reg.xsd EX-100.DEF 4 reg_def.xml EX-100.LAB 5 reg_lab.xml Fidelity Investment TrustAllInstrumentsgroup_C000019408C000019409C000019410C000019411Fidelity International Discovery FundFidelity International Discovery FundFidelity Advisor International Discovery Fund: Class AFidelity Advisor International Discovery Fund: Class BFidelity Advisor International Discovery Fund: Class CFidelity Advisor International Discovery Fund: Class TFidelity Advisor International Discovery Fund: Institutional Class EX-100.INS 6 r-12292007.xml 0000744822ici:Registrant_item2007-12-290000744822filer:S0000070932007-12-290000744822filer:C0000194072007-12-290000744822filer:C0000194082007-12-290000744822filer:C0000194092007-12-290000744822filer:C0000194102007-12-290000744822filer:C0000194112007-12-290000744822filer:C0000194122007-12-290000744822filer:AllInstruments2007-12-290000744822filer:group_C000019408C000019409C000019410C0000194112007-12-29pureiso4217:USDFund SummaryThe fund is composed of multiple classes of shares. All classes of the fund have a common investment objective and investment portfolio. Only one class of shares of the fu nd is offered through this prospectus. In this prospectus, the term "shares" (as it relates to the fund) means the one class of shares of the fund offered through this prospectus.Investment Objectiveseeks long?term growth of capital.Principal Investment Strategies? Normally investing primarily in non?U.S. securities.? Normally investing primarily in common stocks.? Allocating investments across different countries and regions.? Using fundamental analysis of each issuer's financial condition and industry position and market and economic conditions to select investmentsPrincipal Investment RisksStock 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 t hese 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.Issuer?Specific Changes. The value of an individual security or particular type of security can be more volatile than the market as a whole and can perform differently from the value of 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.When you sell your shares they may be worth more or less than what you paid for them, which means that you could lose money.PerformanceThe follo wing information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of International Discovery's shares from year to year and compares the performance of International Discovery's shares to the performance of a market index over various periods of time. Prior to October 1, 2004, the fund operated under certain different investment policies. The fund's historical performance may not represent its current investment policies. Returns (before and after taxes) are based on past results and are not an indication of future performance.International Discovery*19970.071219980.099819990.53712000-0.14062001-0.17432002-0.098720030.433420040.190520050.185520060.2422*The returns shown above are for a class of shares of the fund.Highest Quarter Return0.29391999-12-31Lowest Quarter Return-0.182002-09-30Year?to?Date Return0.18252007-09-30Average Annual ReturnsAfter?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. 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. 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, 2006International Discovery*Return Before Taxes0.24220.17770.1128Return After Taxes on Distributions0.23490.17340.1031Return After Taxes on Distributions and Sale of Fund Shares0.16530.15610.0955Morgan Stanley Capital InternationalSM Europe, Australasia and Far East (MSCI? EAFE?) Index (reflects no deduction for fees, expenses, or taxes)0.26530.15220.0792*The returns shown above are for a class of shares of the fund.Morgan Stanley Capital International Europe, Australasia, Far East (MSCI? EAFE?) Index is a market capitalization weighted index of equity securities of companies domiciled in various countries. The index is designed to represent the performance of developed stock markets outside the United States and Canada and excludes certain market segments unavailable to U.S. based investors. Index returns are adjusted for tax withholding rates applicable to U.S.?based mutual funds organized as Massachusetts business trusts.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 (paid by the investor directly)Sales charge (load) on purchases and reinvested distributions0.0000Deferred sales charge (load) on redemptions0.0000Redemption fee on shares held less than 30 days (as a % of amount redeemed)A-1.00AA redemption fee may be charged when you sell your shares or if your shares are redeemed because your fund balance falls below the balance minimum for any reason, including solely due to declines in net asset value per share.Annual operating expenses (paid from class assets)Management feeA0.0078Distribution and/or Service (12b?1) fees0.0000Other expenses0.0026Total annual class operating expenses0.0104AA portion of the fund's management fee is based on performance relative to a securities index. As a result, the current management fee rate and total expense ratio may be higher or lower than the rate disclosed above, which reflects the performance adjustments for the most recent fiscal period. See the Fund Management section for additional details.This example helps you 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:International Discovery*1 year1063 years3315 years57410 years1271*The expenses shown above are for a class of shares of the fund.PerformanceThe following information is intended to?help you understand the risks of investing in the fund. The information illustrates the changes in the fund's performance over the past year, as represented by the performance of Class T, and compares each class's performance to the performance of a market index over various periods of time. Returns (before and after taxes) are based on past results and are not an indication of future performance.Advisor International Discovery - Class T20060.234Highest Quarter Return0.11072006-12-31Lowest Quarter Return-0.01742006-06-30ear?to?Date Return0.17762007-09-30Average Annual ReturnsThe returns in the following table include the effect of Class A's and Class?T's maximum applicable front?end sales charge and Class B's and Class C's maximum applicable contingent deferred sales charge (CDSC). After?tax returns are calculated using the histori cal highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. After?tax returns for Class T are shown in the table below and after?tax returns for other classes will vary. 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. 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.AReturn Before Taxes0.16870.1933Return Before Taxes0.19080.2032Return After Taxes on Distributions0.18510.1946Return After Taxes on Distributions and Sale of Fund Shares0.13170.1729Return Before Taxes0.17860.2022Return Before Taxes0.21840.2201Morgan Stanley Capital InternationalSM Europe, Australasia, Far East (MSCI? EAFE?) Index (reflects no deduction for fees, expenses, or taxes)0.26530.2166AFrom January 6, 2005.Morgan Stanley Capital International Europe, Australasia, Far East (MSCI??EAFE?) Index is a market capitalization?weighted index of equity securities of companies domiciled in various countries. The index is designed to represent the performance of developed stock markets outside the United States and Canada and excludes certain market segments unavailable to U.S. based investors. Index returns are adjusted for tax withholding rates applicable to U.S. based mutual funds organized as Massachusetts business trusts.Fee Table The following table describes the fees and expenses that may be incurred when you buy, hold, or sell Class A, Class T, Class B, and Class C shares of the fund. Shareholder fees (paid by the investor directly)Maximum sales charge (load) on purchases (as a % of offering price)A0.0575B0.0350C0.00000.0000Maximum contingent deferred sales charge (as a % of the lesser of original purchase price or redemption proceeds)DE0.0000F0.0000G0.0500H0.0100ISales charge (load) on reinvested distributions0.0000Redemption fee on shares held less than 30 days (as a % of amount redeemed)D-1.00AThe actual sales charge may be higher due to rounding.BLower front?end sales charges for Class A may be available with purchase of $50,000 or more.CLower front?end sales charges for Class T may be available with purchase of $50,000 or more.DA redemption fee and/or a contingent deferred sales charge may be charged when you sell your shares or if your shares are redeemed because your account falls below the account minimum for any reason, including solely due to declines in net asset value per share.EThe actual contingent deferred sales charge may be higher due to rounding.FClass A purchases of $1 million or more will not be subject to a front?end sales charge but may be subject, upon redemption, to a contingent deferred sales charge that declines over 2 years from 1.00% to 0%.GClass T purchases of $1 million or more will not be subject to a front?end sales charge but may be subject, upon redemption, to a contingent deferred sales charge of 0.25% if redeemed less than one year after purchase.HDeclines over 6 years from 5.00% to 0%.IOn Class C shares redeemed less than one year after purchase.Annual operating expenses (paid from class assets)Management feeA0.00780.00780.00780.0078Distribution and/or Service (12b?1) fees0.00250.00500.01000.0100Other expenses0.00220.00350.00360.0033Total annual class operating expensesB0.01250.01630.02140.0211AA portion of the fund's management fee is based on performance relative to a securities index. As a result, the current management fee rate and total expense ratio may be higher or lower than the rate disclosed above, which reflects the performance adjustments for the most recent fiscal period. See the Fund Management section for additional details.BFMR has voluntarily agreed to reimburse Class A, Class T, Class B, and Class C of the fund to the extent that total operating expenses (excluding interest, taxes, certain securities lending costs, brokerage commissions, extraordinary expenses, and acquired fund fees and expenses, if any), as a percentage of their respective average net assets, exceed the following rates: Class A Effective Date Class T Effective Date Class B Effective Date Class C Effective Date 1.50% 1/6/05 1.75% 1/6/05 2.25% 1/6/05 2.25% 1/6/05 These arrangements may be discontinued by FMR at any time.This example helps you compare the cost of investing in the fund with the cost of investing in other mutual funds.Let's say, hypothetically, that each class's annual return is 5% and that your shareholder fees and each class's annual operating expenses 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 v ary. 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 and if you hold your shares:1 year69569 55105107172173142143 years9499498468469706706 616615 years1222122212051205134911491134113410 years19991999221522152139A2139A24412441AReflects conversion to Class A shares after a maximum of seven years.PerformanceThe following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the fund's performance over the past year, as represented by the performance of Institutional Class, and compares Institutional Class's performance to the performance of a market index over various periods of time. Returns (before and after taxes) are based on past results and are not an indication of future performance.Advisor International Discovery - Institutional Class20060.2429Highest Quarter Return0.11222006-12-31Lowest Quarter R eturn-0.01552006-06-30Year?to?Date Return0.18342007-09-30Average Annual ReturnsAfter?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. 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. 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 ar rangement.AReturn Before Taxes0.24290.2342Return After Taxes on Distributions0.23530.224Return After Taxes on Distributions and Sale of Fund Sha res0.16570.199Morgan Stanley Capital InternationalSM Europe, Australasia, Far East (MSCI? EAFE?) Index (reflects no deduction for fees, expenses, or taxes)0.26530.2166AFrom January 6, 2005.Morgan Sta nley Capital International Europe, Australasia, Far East (MSCI EAFE) Index is a market capitalization?weighted index of equity securities of companies domiciled in various countries. The index is designed to represent the performance of developed stock markets outside the United States and Canada and excludes certain market segments unavailable to U.S. based investors. Index returns are adjusted for tax withholding rates applicable to U.S. based mutual funds organized as Massachusetts business trusts.Fee Table The following table describes the fees and expenses that may be incurred when you buy, hold, or sell Institutional Class shares of the fund. Shareholder fees (paid by the investor directly)Sales charge (load) on purchases and reinvested distributions0.0000Deferred sales charge (load) on redemptions0.0000Redemption fee on shares held less than 30 days (as a % of amount redeemed)A-1.00AA redemption fee may be charged when you sell your shares or if your shares are redeemed because your account falls below the account minimum for any reason, including solely due to declines in net asset value per share.Annual operating expenses (paid from class assets)Management feeA0.0078Distribution and/or Service (12b?1) fees0.0000Other expenses0.0019Total annual class operating expensesB0.0097AA portion of the fund's management fee is based on performance relative to a securities index. As a result, the current management fee rate and total expense ratio may be higher or lower than the rate disclosed above, which reflects the performance adjustments for the most recent fiscal period. See the Fund Management section for additional details.BEffective January 6, 2005, FMR has voluntarily agreed to reimburse Institutional Class of the fund to the extent that total operating expenses (excluding interest, taxes, certain securities lending costs, brokerage commissions, extraordinary expenses, and acquired fund fees and expenses, if any), as a percentage of its average net assets, exceed 1.25%. This arrangement may be discontinued by FMR at any time.This example helps you compare the cost of investing in the fund with the cost of investing in other mutual funds.Let's say, hypothetically, that Institutional Class's annual return is 5% and that your shareholder fees and Institutional Class's annual operating expenses 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:1 year993 years3095 years53610 years11902008-01-102007-12-29The purpose of submitting the tagged exhibit is to test the related format and technology and, as a result, investors should not rely on this exhibit in making investment decisions. -----END PRIVACY-ENHANCED MESSAGE-----