SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(a)
OF THE SECURITIES EXCHANGE ACT OF 1934
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[ ] Preliminary Proxy Statement
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permitted by Rule 14a-6(e)(2))
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[ ] Definitive Additional Materials
[ X ] Soliciting Material Pursuant
to Sec. 240.14a-11(c) or
Sec. 240.14a-12
Fidelity Investment Trust
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[ ] Check box if any part of the
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FOR PARTICIPANTS WHOSE PLAN SPONSORS ARE CHOOSING TO MOVE BALANCES TO
FIDELITY EUROPE FUND AT MERGER DATE
FIDELITY FRANCE FUND #0345
FIDELITY GERMANY FUND # 0346
FIDELITY UNITED KINGDOM FUND #0344
THESE FUNDS WILL CLOSE TO NEW INVESTMENTS ON APRIL 19, 2000
PENDING MERGER INTO FIDELITY EUROPE FUND #0301
We are writing to inform you of changes to one or more investment
options offered by your retirement plan. These changes may affect how
your retirement savings will be invested.
Fidelity France Fund, Fidelity Germany Fund and Fidelity United
Kingdom Fund will close to all new investments excluding dividend
reinvestment at the close of business on April 19, 2000. The funds
are closing in advance of a shareholder proxy statement mailing in May
that will propose to merge the funds into Fidelity Europe Fund. If
the proposals are approved, Fidelity anticipates that the mergers will
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.
ACTION REQUIRED:
On or before April 19, you will need to contact Fidelity to select an
alternative investment option for your contributions and loan
repayments directed to Fidelity France Fund, Fidelity Germany Fund and
Fidelity United Kingdom Fund. If you do not select an alternative
investment option, any subsequent purchases into these funds will be
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
balances from these funds to Fidelity Europe Fund at the time of the
merger. Of course, you will be able to move any remaining balances to
another investment option in your plan either before - or after the
proposed merger. Please note: each of the three funds has a
short-term trading fee of 1.50% on assets invested in the fund less
than 90 days. If you move your balances out of the fund(s) within 90
days of investing in the fund(s), you may be assessed this fee. If
you choose to do nothing and have your balances automatically
exchanged into the Fidelity Europe Fund, the 90-day period will have
passed and the fee will not be charged. Similarly, if you exchange
your balance in these funds to any other investment option in your
retirement plan after July 18, 2000, the short-term trading fees will
not be assessed.
The potential mergers provide a broader investment option to investors
and lower fund expenses. The investment objective of each fund is
substantially the same -- long-term growth of capital. Fidelity
Europe Fund normally invests 65% of its total assets in securities of
issuers in Europe, which is defined to include 29 different countries
(including France, Germany and United Kingdom). As of its fiscal year
end (October 31, 1999), approximately 68% of its assets were invested
in France, Germany and the United Kingdom. While this mix can be
expected to change over time, Fidelity Europe Fund 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 than Fidelity
France Fund, Fidelity Germany Fund, or Fidelity United Kingdom Fund.
Fidelity Europe Fund charges 1.00% for redemptions of fund shares held
less than 30 days while Fidelity France Fund, Fidelity Germany Fund,
and Fidelity United Kingdom Fund charge 1.50% for redemptions of
shares held for less than 90 days. The shareholders of these three
funds should benefit from the significantly lower annual operating
expenses of Fidelity Europe Fund. It also has a performance adjustment
component to its management fee structure. The fund commenced
operations October, 1986 and is managed by Mr. Thierry Serero.
For additional information, please contact Fidelity.
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 St., Boston, MA 02109
100350
