SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(a)
OF THE SECURITIES EXCHANGE ACT OF 1934
Filed by the [X]
Registrant
Filed by a [ ]
Party other than the
Registrant
Check the appropriate box:
[ ] Preliminary Proxy Statement
[ ] Confidential, for Use of the
Commission Only (as
permitted by Rule 14a-6(e)(2))
[ ] Definitive Proxy Statement
[ ] Definitive Additional Materials
[ X ] Soliciting Material Pursuant
to Sec. 240.14a-11(c) or
Sec. 240.14a-12
Fidelity Investment Trust
Payment of Filing Fee (Check the appropriate box):
[X] No fee required.
[ ] Fee computed on table below
per Exchange Act Rules
14a-6(i)(1) and 0-11.
(1) Title of each class of
securities to which
transaction applies:
(2) Aggregate number of
securities to which
transaction applies:
(3) Per unit price or other
underlying value of
transaction
computed pursuant to Exchange
Act Rule 0-11:
(4) Proposed maximum aggregate
value of transaction:
(5) Total Fee Paid:
[ ] Fee paid previously with
preliminary materials.
[ ] Check box if any part of the
fee is offset as provided by
Exchange Act Rule 0-11(a) (2)
and identify the filing for
which the offsetting fee was
paid previously. Identify the
previous filing by
registration statement
number, or the Form or
Schedule and the date of
its filing.
(1) Amount Previously Paid:
(2) Form, Schedule or
Registration Statement No.:
(3) Filing Party:
(4) Date Filed:
FIDELITY FRANCE FUND (0345)
FIDELITY GERMANY FUND (0346)
FIDELITY UNITED KINGDOM FUND (0344)
Dear Plan Sponsor:
We are writing to inform you that on January 20, 2000, the Board of
Trustees approved a proposal to merge each of Fidelity France Fund,
Fidelity Germany Fund, and Fidelity United Kingdom Fund into Fidelity
Europe Fund. The mergers would provide shareholders of Fidelity France
Fund, Fidelity Germany Fund, and Fidelity United Kingdom Fund with a
fund that has broader investment policies and lower expenses.
In anticipation of the mergers, Fidelity France Fund, Fidelity Germany
Fund, and Fidelity United Kingdom Fund will close to all investments
at the close of business on April 19, 2000. If your plan does not
currently offer Fidelity Europe Fund we will add it to your plan and
future contributions to Fidelity France Fund, Fidelity Germany Fund,
and Fidelity United Kingdom Fund will be reallocated to Fidelity
Europe Fund after the merger dates.
The proposed mergers require approval by shareholders of Fidelity
France Fund, Fidelity Germany Fund, and Fidelity United Kingdom Fund.
A proxy statement providing more details of the proposed mergers will
be mailed in May 2000. We anticipate that the mergers, if approved,
will be completed by the end of July 2000.
We believe the mergers are in the best interest of the shareholders of
each fund. The investment objectives of the funds are substantially
similar -- long-term growth of capital. Fidelity Europe Fund must
invest 65% of its assets in securities of issuers in Europe, which is
defined to include 29 different countries (including France, Germany
and United Kingdom). As of the fund's fiscal year end, October 31,
1999, more than 60% of its assets were invested in France, Germany and
the United Kingdom. While this mix can be expected to change over
time, Fidelity Europe offers investors the potential for greater
diversification while still retaining the ability to invest in the
markets of these three countries.
Also, Fidelity Europe Fund has a lower short-term trading fee than
Fidelity France Fund, Fidelity Germany Fund, and Fidelity United
Kingdom Fund. Fidelity Europe Fund charges 1.00% for redemptions of
fund shares held for less than 30 days whereas Fidelity France Fund,
Fidelity Germany Fund, and Fidelity United Kingdom Fund charge 1.50%
for redemptions of shares held for less than 90 days. Fidelity Europe
Fund also has a performance adjustment component to its management fee
structure.
Thank you for your continued support of the Fidelity(Registered
trademark) funds. If you have any questions, or would like to discuss
your options further, please call your Relationship Manager at
xxx-xxx-xxxx.
Sincerely,
{RM or PM Signature}
SHAREHOLDERS ARE URGED TO READ THE PROXY STATEMENT AND PROSPECTUS (THE
"PROXY STATEMENT") WHICH CONTAINS IMPORTANT INFORMATION ABOUT THE
PROPOSED MERGERS. THE PROXY STATEMENT WILL BE FILED SHORTLY WITH THE
SEC AND WILL BE AVAILABLE, WITHOUT CHARGE, ON THE SEC'S INTERNET WEB
SITE (HTTP://WWW.SEC.GOV). PROXY STATEMENTS WILL BE MAILED TO
INVESTORS WHO ARE SHAREHOLDERS OF THE FUNDS AS OF MAY 22, 2000.
For more complete information about Fidelity mutual funds, or about
any of the mutual funds available through the plan, including fees and
expenses, call or write Fidelity for free prospectuses. Read them
carefully before you make your investment choices.
Fidelity is a registered trademark of FMR Corp.
Foreign investments, especially those in emerging markets, involve
greater risks and may offer greater potential returns than U.S.
investments. These risks include political and economic uncertainties
of foreign countries, as well as the risks of currency fluctuation.
Fidelity Investments Tax-Exempt Services Company, a division of
Fidelity Investments Institutional Services Company, Inc., 82
Devonshire Street, Boston MA 02109.
2i 97495
Dear Plan Sponsor Named Fiduciary and Business Contact,
On January 20, 2000, the Board of Trustees approved a proposal to
close Fidelity France Fund, Fidelity Germany Fund and Fidelity United
Kingdom Fund in advance of requesting shareholder approval to merge
the funds into Fidelity Europe Fund. The potential mergers reflect
trends in the European economy, enhance operational efficiencies for
the fund and provide cost savings to current shareholders. A proxy
statement providing details of the proposed merger will mail in May
2000. The mergers, if approved, should be completed on or about July
24 for Fidelity United Kingdom Fund, on or about July 26 for Fidelity
Germany Fund, on or about July 28 for Fidelity France Fund.
Fidelity France Fund, Fidelity Germany Fund and Fidelity United
Kingdom Fund will close to all investments (except dividend
reinvestment) at the close of business on April 19, 2000.
Participants with balances will need to select an alternative
investment option for future investments on or before that date.
Participants who do not select an alternative will have subsequent
purchases into the fund automatically allocated TO [INSERT NAME OF
FUND --IF OPTION IS MM USE FOOTNOTE 1, GIC -2 , INTERNATIONAL - 3]
after April 19. If these mergers are approved, Fidelity will
automatically move any remaining participant balances from these funds
to Fidelity Europe Fund at the time of the merger. Participants will
be able to move their balances to another investment option in their
plan either before - or after the proposed merger. Communications will
be sent to participants with balances in these funds in late March.
Please note: Fidelity France Fund, Fidelity Germany Fund and Fidelity
United Kingdom Fund each has a short term trading fee that is assessed
on assets that have been in the fund(s) less than 90 days. Because
there will be more than 90 days between April 19th and the merger
dates, those participants who choose to do nothing and have their
balances automatically exchanged to the Fidelity Europe Fund will not
be assessed this fee.
The Board of Trustees of the Fidelity Funds believes the mergers are
in the best interest of investors in these funds. The investment
objective of each fund is the same -- long-term growth of capital.
Fidelity Europe Fund normally invests 65% of its total assets in
securities of issuers that have their principal activities in Europe,
which is defined to include 29 different countries (including France,
Germany and United Kingdom). As of December 31, 1999, approximately
60% of the fund's assets were invested in France, Germany and the
United Kingdom. While this mix can be expected to change over time,
Fidelity Europe offers investors the potential for greater
diversification while still retaining the ability to invest in the
markets of these three key countries.
Fidelity Europe Fund has a lower short term trading fee of 1.00% that
is paid to the fund for shares held for less than 30 rather than the
90 day period for Fidelity France Fund, Fidelity Germany Fund, and
Fidelity United Kingdom Fund. It also has a performance adjustment
component to its management fee structure. The shareholders of these
three funds should also benefit from the lower annual operating
expenses of Fidelity Europe Fund. The fund commenced operations
October, 1986 and is managed by Mr. Thierry Serero.
I will be calling you to discuss any questions you might have
regarding the Fidelity Europe Fund or whether you wish to direct
Fidelity to proceed differently than as described above.
Sincerely,
Shareholders are urged to read the Proxy Statement and Prospectus (the
"Proxy Statement") which contains important information about the
proposed merger. The Proxy statement will be filed shortly with the
SEC and will be available, without charge, on the SEC's Internet Web
site (HTTP://WWW.SEC.GOV). Proxy Statements will be mailed to
investors who are shareholders of the Fidelity France Fund, Fidelity
Germany Fund and Fidelity United Kingdom Fund as of May 22, 2000.
FOR MORE COMPLETE INFORMATION ABOUT FIDELITY MUTUAL FUNDS, [if
non-Fidelity and/or FundsNet funds are available in the Plan, and
available by Fidelity, add: ABOUT ANY OF THE MUTUAL FUNDS AVAILABLE
THROUGH THE PLAN,] INCLUDING FEES AND EXPENSES, CALL OR WRITE FIDELITY
FOR FREE PROSPECTUSES. READ THEM CAREFULLY BEFORE YOU MAKE YOUR
INVESTMENT CHOICES.
(1) AN INVESTMENT IN A MONEY MARKET FUND IS NOT INSURED OR GUARANTEED
BY THE FDIC OR ANY OTHER GOVERNMENT AGENCY. ALTHOUGH MONEY MARKET
FUNDS SEEK TO PRESERVE THE VALUE OF YOUR INVESTMENT AT $1.00 PER
SHARE, IT IS POSSIBLE TO LOSE MONEY BY INVESTING IN THESE FUNDS.
(2)[NAME OF FUND] IS NOT A MUTUAL FUND AND IS MANAGED BY [FIDELITY
MANAGEMENT TRUST COMPANY OR NAME OF FUND MANAGER].
(3) FOREIGN INVESTMENTS [IF FUND INVESTS IN EMERGING MARKET
SECURITIES, ADD: ESPECIALLY THOSE IN EMERGING MARKETS] INVOLVE
GREATER RISKS AND MAY OFFER GREATER POTENTIAL RETURNS THAN U.S.
INVESTMENTS. THESE RISKS INCLUDE POLITICAL AND ECONOMIC UNCERTAINTIES
OF FOREIGN COUNTRIES, AS WELL AS THE RISK OF CURRENCY FLUCTUATIONS.
Fidelity Investments Institutional Services Company, Inc., 82
Devonshire Street, Boston, MA 02109
97809
