Fidelity Global Large Cap Currency Neutral Class

Investment Strategy

Fidelity Global Large Cap Currency Neutral Class offers exposure to global growth opportunities through a portfolio that draws on the best ideas of Fidelity's global sector portfolio managers.

Currency Neutral Funds use derivatives to mitigate the Fund's exposure to changes in exchange rates between developed market currencies and the Canadian dollar. The investment approach used by the Funds, while effective in reducing exchange rate risk, will not completely eliminate the impact of currency fluctuations. The Fund's returns will differ from the local currency returns of its underlying fund.

Performance

Annual compound performance – as at 30-Apr-2012

  Fund Morningstar
Quartile*		 Benchmark
1 month -1.61% — -1.40%
3 month 5.99% — 4.59%
6 month 9.79% — 8.30%
1 year -7.63% — -3.16%
2 year — — —
3 year — — —
5 year — — —
7 year — — —
10 year — — —
YTD 12.41% — 9.53%
Since Inception -6.11% — -1.90%

Calendar year performance – as at 30-Apr-2012

Growth of $10,000 since inception – as at 30-Apr-2012

Volatility meter

The volatility meter uses methodology recommended by the Fund Risk Classification Task Force of the Investment Funds Institute of Canada. The Task Force prescribes risk assessment based on historical volatility risk as measured by the standard deviation of fund performance. The Task Force also acknowledges that other types of measurable and nonmeasurable risk may exist. The Task Force reminds investors that historical performance may not be indicative of future returns and a fund’s historical volatility may not be indicative of future volatility.

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Fund facts

NAVPU – Series B

$8.49 – as at 18-May-2012

Fund inception date

06-Apr-2011

Fund benchmark

MSCI All Country World Index

Fund aggregate assets (all series)

$3.3 million
as at 30-Apr-2012

Management expense ratio - Series B

2.48% – as at 30-Nov-2011

Footnotes and disclosures

* ©2011 Morningstar Research Inc. All rights reserved. For greater detail see www.morningstar.ca. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or redistributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any changes or losses arising from any use of this information.

 The indicated rates of return are the historical annual compounded total returns including changes in unit value and the reinvestment of all distributions and do not take into account sales, redemption, distribution, optional charges, or income taxes payable by any securityholder that would have reduced returns.

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