SUPPLEMENT TO THE
FIDELITY ADVISOR
EMERGING ASIA FUND
CLASS A, CLASS T,
CLASS B, AND CLASS C
OCTOBER 8, 1999
PROSPECTUS
On October 14, 1999, the Board of Trustees of Fidelity Advisor
Emerging Asia Fund authorized the elimination of the 4.00% redemption
fee (short-term trading fee) on Class A shares received in connection
with the reorganization of Fidelity Advisor Emerging Asia Fund, Inc.
(Closed-End Fund.) Class A shares received in connection with the
reorganization of the Closed-End Fund and redeemed on or after
November 1, 1999 will not be subject to a 4.00% short-term trading
fee.
Effective November 1, 1999, the following information replaces similar
information found in the "Fee Table" section on page 5.
SHAREHOLDER FEES (PAID BY THE INVESTOR DIRECTLY)
Class A Class T Class B Class C
Maximum sales charge (load) 5.75%A 3.50%B None None
on purchases (as a % of
offering price)
Maximum CDSC (as a % of the NoneC NoneC 5.00%D 1.00%E
lesser of original purchase
price or redemption proceeds)
Sales charge (load) on None None None None
reinvested distributions
A LOWER FRONT-END SALES CHARGES FOR CLASS A MAY BE AVAILABLE WITH
PURCHASE OF $50,000 OR MORE.
B LOWER FRONT-END SALES CHARGES FOR CLASS T MAY BE AVAILABLE WITH
PURCHASE OF $50,000 OR MORE.
C A CONTINGENT DEFERRED SALES CHARGE OF 0.25% IS ASSESSED ON CERTAIN
REDEMPTIONS OF CLASS A AND CLASS T SHARES ON WHICH A FINDER'S FEE WAS
PAID.
D DECLINES OVER 6 YEARS FROM 5.00% TO 0%.
E ON CLASS C SHARES REDEEMED WITHIN ONE YEAR OF PURCHASE.
Effective November1, 1999, the following information replaces the
first, second, and third paragraphs found under the heading "Selling
Shares" in the "Buying and Selling Shares" section on page 10.
The price to sell one share of each class is the class's NAV, minus
any applicable CDSC.
If appropriate to protect shareholders, the fund may impose a
redemption fee (trading fee) on redemptions from the fund.
Effective November 1, 1999, the following information replaces the
fifth paragraph found under the heading "Selling Shares" in the
"Buying and Selling Shares" section on page 10.
Your shares will be sold at the next NAV calculated after your order
is received in proper form, minus any applicable CDSC.
Effective November 1, 1999, the following information replaces the
similar information found under the heading "Policies" in the "Account
Features and Policies" section on page 13.
If your ACCOUNT BALANCE falls below $1,000 (except accounts not
subject to account minimums), you will be given 30 days' notice to
reestablish the minimum balance. If you do not increase your balance,
Fidelity may close your account and send the proceeds to you. Your
shares will be sold at the NAV, minus any applicable CDSC, on the day
your account is closed.
SUPPLEMENT TO THE
FIDELITY ADVISOR EMERGING ASIA FUND
CLASS A, CLASS T, CLASS B, CLASS C, AND
INSTITUTIONAL CLASS
OCTOBER 8, 1999
STATEMENT OF ADDITIONAL INFORMATION
ON OCTOBER 14, 1999, THE BOARD OF TRUSTEES OF FIDELITY ADVISOR
EMERGING ASIA FUND AUTHORIZED THE ELIMINATION OF THE 4.00% REDEMPTION
FEE (SHORT-TERM TRADING FEE) ON CLASS A SHARES RECEIVED IN CONNECTION
WITH THE REORGANIZATION OF FIDELITY ADVISOR EMERGING ASIA, INC.
(CLOSED-END FUND.) CLASS A SHARES RECEIVED IN CONNECTION WITH THE
REORGANIZATION OF THE CLOSED-END FUND AND REDEEMED ON OR AFTER
NOVEMBER 1, 1999 WILL NOT BE SUBJECT TO A 4.00% SHORT-TERM TRADING
FEE.
EFFECTIVE NOVEMBER 1, 1999, THE FOLLOWING INFORMATION REPLACES THE
FIFTH PARAGRAPH FOUND IN THE "PERFORMANCE" SECTION ON PAGE 14.
In addition to average annual returns, a class may quote unaveraged or
cumulative returns reflecting the simple change in value of an
investment over a stated period. Average annual and cumulative returns
may be quoted as a percentage or as a dollar amount, and may be
calculated for a single investment, a series of investments, or a
series of redemptions, over any time period. Returns may be broken
down into their components of income and capital (including capital
gains and changes in share price) in order to illustrate the
relationship of these factors and their contributions to return.
Returns may be quoted on a before-tax or after-tax basis. Returns may
or may not include the effect of a class's maximum sales charge.
Excluding a class's sales charge from a return calculation produces a
higher return figure. Returns and other performance information may be
quoted numerically or in a table, graph, or similar illustration.
EFFECTIVE NOVEMBER 1, 1999, THE FOLLOWING INFORMATION REPLACES SIMILAR
INFORMATION FOUND IN THE "PERFORMANCE" SECTION ON PAGE 15.
HISTORICAL FUND RESULTS. The following table shows each class's
returns for the fiscal periods ended April 30, 1999.
Class A and Class T have a maximum front-end sales charge of 5.75% and
3.50%, respectively, which is included in the average annual and
cumulative returns. Class B and Class C have a maximum CDSC of 5.00%
and 1.00%, respectively, which is included in the average annual and
cumulative returns.
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
Average Annual ReturnsA Cumulative ReturnsA
One Year Five Years Life of Fund* One Year Five Years
Advisor Emerging Asia - Class A 19.08% -0.01% -0.22% 19.08% -0.05%
Advisor Emerging Asia - Class T 20.65% 0.25% 0.04% 20.65% 1.26%
Advisor Emerging Asia - Class B 20.02% 0.59% 0.55% 20.02% 3.00%
Advisor Emerging Asia - Class C 24.04% 0.97% 0.74% 24.02% 4.93%
Advisor Emerging Asia - 25.02% 0.97% 0.74% 25.02% 4.93%
Institutional Class
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
Cumulative ReturnsA
Life of Fund*
Advisor Emerging Asia - Class A -1.11%
Advisor Emerging Asia - Class T 0.18%
Advisor Emerging Asia - Class B 2.86%
Advisor Emerging Asia - Class C 3.82%
Advisor Emerging Asia - 3.82%
Institutional Class
</TABLE>
* From March 25, 1994 (commencement of operations of the Closed-End
Fund).
A Initial offering of each class of the fund took place on June 16,
1999. Returns prior to June 16, 1999 are those of the Closed-End Fund,
which had no 12b-1 fee. If Class A's, Class T's, Class B's, and Class
C's total expenses, including 12b-1 fees, had been reflected, returns
would have been lower.
EFFECTIVE NOVEMBER 1, 1999, THE FIRST PARAGRAPH ON PAGE 16 IN THE
"PERFORMANCE" SECTION IS NO LONGER APPLICABLE.
