SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(a)
OF THE SECURITIES EXCHANGE ACT OF 1934
Filed by the Registrant [X]
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:
[retail version]
FIDELITY FRANCE FUND
Dear Investor:
We are writing to inform you that on January 20, 2000, the Board of
Trustees approved a proposal to merge Fidelity France Fund into
Fidelity Europe Fund. The potential merger should result in
operational efficiencies for the fund and related cost savings to
current shareholders of the fund.
The proposed merger requires approval by shareholders of Fidelity
France Fund. A proxy statement providing more details of the proposed
merger will be mailed in May 2000. We anticipate that the merger, if
approved, should be completed by the end of July 2000. In
anticipation of the merger, Fidelity France Fund will close to all
purchases (except dividend reinvestment) at the close of business on
April 19, 2000. Please be aware that all automatic investment
programs into the fund will terminate on this date.
We believe the merger is in the best interest of shareholders. The
investment objective of each fund is long-term growth of capital. The
principal difference between the funds is that Fidelity France Fund
must invest at least 65% of its assets in securities of French
issuers, whereas 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). The shareholders of Fidelity
France Fund should benefit from the significantly lower annual
operating expenses of Fidelity Europe Fund. The attached chart
highlights key characteristics of both funds.
Thank you for your continued support of the Fidelity Funds. If you
have any questions, or would like to discuss your options further,
please call a Fidelity Representative at 1-800-544-8888.
Sincerely,
Edward McCartney
Executive Vice President
Product Management and Development
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 FUND AS OF MAY 22, 2000.
[second side of page for Retail letter]
COMPARISON OF FUNDS
(as of December 31, 1999)
FUND FIDELITY FRANCE FUND FIDELITY EUROPE FUND
OBJECTIVE Long-term growth of capital Long-term growth of capital
STRATEGY (solid bullet) Normally (solid bullet) Normally
invests the fund's assets invests the fund's assets
primarily in common stocks primarily in common stocks
(solid bullet) Normally (solid bullet) Normally
invests at least 65% of the invests at least 65% of the
fund's assets in securities fund's total assets in
of French issuers. securities of issuers that
have their principal
activities in Europe. Europe
includes Austria, Belgium,
Belarus, Bulgaria, the Czech
Republic, Denmark, Estonia,
Finland, France, Germany,
Greece,
Hungary, Ireland, Italy,
Latvia, Lithuania,
Luxembourg, the
Nether-lands, Norway,
Poland, Portugal, Russia,
Slovakia, Slovenia, Spain,
Sweden, Switzerland, Turkey,
and the United Kingdom
NET ASSETS $13.5 million $1,477.7 million
INCEPTION DATE 11/95 10/86
FUND MANAGER Alexandra Edzard Thierry Serero
[premium version]
FIDELITY FRANCE FUND
Dear Investor:
We are writing to inform you that on January 20, 2000, the Board of
Trustees approved a proposal to merge Fidelity France Fund into
Fidelity Europe Fund. The potential merger should result in
operational efficiencies for the fund and related cost savings to
current shareholders of the fund.
The proposed merger requires approval by shareholders of Fidelity
France Fund. A proxy statement providing more details of the proposed
merger will be mailed in May 2000. We anticipate that the merger, if
approved, should be completed by the end of July 2000. In
anticipation of the merger, Fidelity France Fund will close to all
purchases (except dividend reinvestment) at the close of business on
April 19, 2000. Please be aware that all automatic investment
programs into the fund will terminate on this date.
We believe the merger is in the best interest of shareholders. The
investment objective of each fund is long-term growth of capital. The
principal difference between the funds is that Fidelity France Fund
must invest at least 65% of its assets in securities of French
issuers, whereas 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). The shareholders of Fidelity
France Fund should benefit from the significantly lower annual
operating expenses of Fidelity Europe Fund. The attached chart
highlights key characteristics of both funds.
Thank you for your continued support of the Fidelity Funds. If you
have any questions, or would like to discuss your options further,
please call your Premium Services team at 1-800-544-4442, Monday
through Friday, 8:00 a.m. to 8:00 p.m.
Sincerely,
Edward McCartney
Executive Vice President
Product Management and Development
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 FUND AS OF MAY 22, 2000.
[second side of page for premium letter]
COMPARISON OF FUNDS
(as of December 31, 1999)
FUND FIDELITY FRANCE FUND FIDELITY EUROPE FUND
OBJECTIVE Long-term growth of capital Long-term growth of capital
STRATEGY (solid bullet) Normally (solid bullet) Normally
invests the fund's assets invests the fund's assets
primarily in common stocks primarily in common stocks
(solid bullet) Normally (solid bullet) Normally
invests at least 65% of the invests at least 65% of the
fund's assets in securities fund's total assets in
of French issuers. securities of issuers that
have their principal
activities in Europe. Europe
includes Austria, Belgium,
Belarus, Bulgaria, the Czech
Republic, Denmark, Estonia,
Finland, France, Germany,
Greece,
Hungary, Ireland, Italy,
Latvia, Lithuania,
Luxembourg, the
Nether-lands, Norway,
Poland, Portugal, Russia,
Slovakia, Slovenia, Spain,
Sweden, Switzerland, Turkey,
and the United Kingdom
NET ASSETS $13.5 million $1,477.7 million
INCEPTION DATE 11/95 10/86
FUND MANAGER Alexandra Edzard Thierry Serero
[NFCS version]
FIDELITY FRANCE FUND
Dear Investor:
We are writing to inform you that on January 20, 2000, the Board of
Trustees approved a proposal to merge Fidelity France Fund into
Fidelity Europe Fund. The potential merger should result in
operational efficiencies for the fund and related cost savings to
current shareholders of the fund.
The proposed merger requires approval by shareholders of Fidelity
France Fund. A proxy statement providing more details of the proposed
merger will be mailed in May 2000. We anticipate that the merger, if
approved, should be completed by the end of July 2000. In
anticipation of the merger, Fidelity France Fund will close to all
purchases (except dividend reinvestment) at the close of business on
April 19, 2000. Please be aware that all automatic investment
programs into the fund will terminate on this date.
We believe the merger is in the best interest of shareholders. The
investment objective of each fund is long-term growth of capital. The
principal difference between the funds is that Fidelity France Fund
must invest at least 65% of its assets in securities of French
issuers, whereas 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). The shareholders of Fidelity
France Fund should benefit from the significantly lower annual
operating expenses of Fidelity Europe Fund. The attached chart
highlights key characteristics of both funds.
Thank you for your continued support of the Fidelity Funds. If you
have any questions, or would like to discuss your options further,
please contact your broker or financial representative.
Sincerely,
Edward McCartney
Executive Vice President
Product Management and Development
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 FUND AS OF MAY 22, 2000.
[second side of page for NFCS letter]
COMPARISON OF FUNDS
(as of December 31, 1999)
FUND FIDELITY FRANCE FUND FIDELITY EUROPE FUND
OBJECTIVE Long-term growth of capital Long-term growth of capital
STRATEGY (solid bullet) Normally (solid bullet) Normally
invests the fund's assets invests the fund's assets
primarily in common stocks primarily in common stocks
(solid bullet) Normally (solid bullet) Normally
invests at least 65% of the invests at least 65% of the
fund's assets in securities fund's total assets in
of French issuers. securities of issuers that
have their principal
activities in Europe. Europe
includes Austria, Belgium,
Belarus, Bulgaria, the Czech
Republic, Denmark, Estonia,
Finland, France, Germany,
Greece,
Hungary, Ireland, Italy,
Latvia, Lithuania,
Luxembourg, the
Nether-lands, Norway,
Poland, Portugal, Russia,
Slovakia, Slovenia, Spain,
Sweden, Switzerland, Turkey,
and the United Kingdom
NET ASSETS $13.5 million $1,477.7 million
INCEPTION DATE 11/95 10/86
FUND MANAGER Alexandra Edzard Thierry Serero
[retail version]
FIDELITY GERMANY FUND
Dear Investor:
We are writing to inform you that on January 20, 2000, the Board of
Trustees approved a proposal to merge Fidelity Germany Fund into
Fidelity Europe Fund. The potential merger should result in
operational efficiencies for the fund and related cost savings to
current shareholders of the fund.
The proposed merger requires approval by shareholders of Fidelity
Germany Fund. A proxy statement providing more details of the
proposed merger will be mailed in May 2000. We anticipate that the
merger, if approved, should be completed by the end of July 2000. In
anticipation of the merger, Fidelity Germany Fund will close to all
purchases (except dividend reinvestment) at the close of business on
April 19, 2000. Please be aware that all automatic investment
programs into the fund will terminate on this date.
We believe the merger is in the best interest of shareholders. The
investment objective of each fund is long-term growth of capital. The
principal difference between the funds is that Fidelity Germany Fund
must invest at least 65% of its assets in securities of German
issuers, whereas Fidelity Europe Fund must invest 65% of its assets in
securities of issuers in Europe, which is defined to include 29
different countries (including Germany). The shareholders of Fidelity
Germany Fund should benefit from the significantly lower annual
operating expenses of Fidelity Europe Fund. The attached chart
highlights key characteristics of both funds.
Thank you for your continued support of the Fidelity Funds. If you
have any questions, or would like to discuss your options further,
please call a Fidelity Representative at 1-800-544-8888.
Sincerely,
Edward McCartney
Executive Vice President
Product Management and Development
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 FUND AS OF MAY 22, 2000.
[second side of page for Retail letter]
COMPARISON OF FUNDS
(as of December 31, 1999)
FUND FIDELITY GERMANY FUND FIDELITY EUROPE FUND
OBJECTIVE Long-term growth of capital Long-term growth of capital
STRATEGY (solid bullet) Normally (solid bullet) Normally
invests the fund's assets invests the fund's assets
primarily in common stocks primarily in common stocks
(solid bullet) Normally (solid bullet) Normally
invests at least 65% of the invests at least 65% of the
fund's assets in securities fund's total assets in
of German issuers. securities of issuers that
have their principal
activities in Europe. Europe
includes Austria, Belgium,
Belarus, Bulgaria, the Czech
Republic, Denmark, Estonia,
Finland, France, Germany,
Greece,
Hungary, Ireland, Italy,
Latvia, Lithuania,
Luxembourg, the
Nether-lands, Norway,
Poland, Portugal, Russia,
Slovakia, Slovenia, Spain,
Sweden, Switzerland, Turkey,
and the United Kingdom
NET ASSETS $29.3 million $1,477.7 million
INCEPTION DATE 11/95 10/86
FUND MANAGER Alexandra Edzard Thierry Serero
[premium version]
FIDELITY GERMANY FUND
Dear Investor:
We are writing to inform you that on January 20, 2000, the Board of
Trustees approved a proposal to merge Fidelity Germany Fund into
Fidelity Europe Fund. The potential merger should result in
operational efficiencies for the fund and related cost savings to
current shareholders of the fund.
The proposed merger requires approval by shareholders of Fidelity
Germany Fund. A proxy statement providing more details of the
proposed merger will be mailed in May 2000. We anticipate that the
merger, if approved, should be completed by the end of July 2000. In
anticipation of the merger, Fidelity Germany Fund will close to all
purchases (except dividend reinvestment) at the close of business on
April 19, 2000. Please be aware that all automatic investment
programs into the fund will terminate on this date.
We believe the merger is in the best interest of shareholders. The
investment objective of each fund is long-term growth of capital. The
principal difference between the funds is that Fidelity Germany Fund
must invest at least 65% of its assets in securities of German
issuers, whereas Fidelity Europe Fund must invest 65% of its assets in
securities of issuers in Europe, which is defined to include 29
different countries (including Germany). The shareholders of Fidelity
Germany Fund should benefit from the significantly lower annual
operating expenses of Fidelity Europe Fund. The attached chart
highlights key characteristics of both funds.
Thank you for your continued support of the Fidelity Funds. If you
have any questions, or would like to discuss your options further,
please call your Premium Services team at 1-800-544-4442, Monday
through Friday, 8:00 a.m. to 8:00 p.m.
Sincerely,
Edward McCartney
Executive Vice President
Product Management and Development
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 FUND AS OF MAY 22, 2000.
[second side of page for premium letter]
COMPARISON OF FUNDS
(as of December 31, 1999)
FUND FIDELITY GERMANY FUND FIDELITY EUROPE FUND
OBJECTIVE Long-term growth of capital Long-term growth of capital
STRATEGY (solid bullet) Normally (solid bullet) Normally
invests the fund's assets invests the fund's assets
primarily in common stocks primarily in common stocks
(solid bullet) Normally (solid bullet) Normally
invests at least 65% of the invests at least 65% of the
fund's assets in securities fund's total assets in
of German issuers. securities of issuers that
have their principal
activities in Europe. Europe
includes Austria, Belgium,
Belarus, Bulgaria, the Czech
Republic, Denmark, Estonia,
Finland, France, Germany,
Greece,
Hungary, Ireland, Italy,
Latvia, Lithuania,
Luxembourg, the
Nether-lands, Norway,
Poland, Portugal, Russia,
Slovakia, Slovenia, Spain,
Sweden, Switzerland, Turkey,
and the United Kingdom
NET ASSETS $29.3 million $1,477.7 million
INCEPTION DATE 11/95 10/86
FUND MANAGER Alexandra Edzard Thierry Serero
[NFCS version]
FIDELITY GERMANY FUND
Dear Investor:
We are writing to inform you that on January 20, 2000, the Board of
Trustees approved a proposal to merge Fidelity Germany Fund into
Fidelity Europe Fund. The potential merger should result in
operational efficiencies for the fund and related cost savings to
current shareholders of the fund.
The proposed merger requires approval by shareholders of Fidelity
Germany Fund. A proxy statement providing more details of the
proposed merger will be mailed in May 2000. We anticipate that the
merger, if approved, should be completed by the end of July 2000. In
anticipation of the merger, Fidelity Germany Fund will close to all
purchases (except dividend reinvestment) at the close of business on
April 19, 2000. Please be aware that all automatic investment
programs into the fund will terminate on this date.
We believe the merger is in the best interest of shareholders. The
investment objective of each fund is long-term growth of capital. The
principal difference between the funds is that Fidelity Germany Fund
must invest at least 65% of its assets in securities of German
issuers, whereas Fidelity Europe Fund must invest 65% of its assets in
securities of issuers in Europe, which is defined to include 29
different countries (including Germany). The shareholders of Fidelity
Germany Fund should benefit from the significantly lower annual
operating expenses of Fidelity Europe Fund. The attached chart
highlights key characteristics of both funds.
Thank you for your continued support of the Fidelity Funds. If you
have any questions, or would like to discuss your options further,
please contact your broker or financial representative.
Sincerely,
Edward McCartney
Executive Vice President
Product Management and Development
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 FUND AS OF MAY 22, 2000.
[second side of page for NFCS letter]
COMPARISON OF FUNDS
(as of December 31, 1999)
FUND FIDELITY GERMANY FUND FIDELITY EUROPE FUND
OBJECTIVE Long-term growth of capital Long-term growth of capital
STRATEGY (solid bullet) Normally (solid bullet) Normally
invests the fund's assets invests the fund's assets
primarily in common stocks primarily in common stocks
(solid bullet) Normally (solid bullet) Normally
invests at least 65% of the invests at least 65% of the
fund's assets in securities fund's total assets in
of German issuers. securities of issuers that
have their principal
activities in Europe. Europe
includes Austria, Belgium,
Belarus, Bulgaria, the Czech
Republic, Denmark, Estonia,
Finland, France, Germany,
Greece,
Hungary, Ireland, Italy,
Latvia, Lithuania,
Luxembourg, the
Nether-lands, Norway,
Poland, Portugal, Russia,
Slovakia, Slovenia, Spain,
Sweden, Switzerland, Turkey,
and the United Kingdom
NET ASSETS $29.3 million $1,477.7 million
INCEPTION DATE 11/95 10/86
FUND MANAGER Alexandra Edzard Thierry Serero
[retail version]
FIDELITY UNITED KINGDOM FUND
Dear Investor:
We are writing to inform you that on January 20, 2000, the Board of
Trustees approved a proposal to merge Fidelity United Kingdom Fund
into Fidelity Europe Fund. The potential merger should result in
operational efficiencies for the fund and related cost savings to
current shareholders of the fund.
The proposed merger requires approval by shareholders of Fidelity
United Kingdom Fund. A proxy statement providing more details of the
proposed merger will be mailed in May 2000. We anticipate that the
merger, if approved, should be completed by the end of July 2000. In
anticipation of the merger, Fidelity United Kingdom Fund will close to
all purchases (except dividend reinvestment) at the close of business
on April 19, 2000. Please be aware that all automatic investment
programs into the fund will terminate on this date.
We believe the merger is in the best interest of shareholders. The
investment objective of each fund is long-term growth of capital. The
principal difference between the funds is that Fidelity United Kingdom
Fund must invest at least 65% of its assets in securities of British
issuers, whereas Fidelity Europe Fund must invest 65% of its assets in
securities of issuers in Europe, which is defined to include 29
different countries (including the United Kingdom). The shareholders
of Fidelity United Kingdom Fund should benefit from the significantly
lower annual operating expenses of Fidelity Europe Fund. The attached
chart highlights key characteristics of both funds.
Thank you for your continued support of the Fidelity Funds. If you
have any questions, or would like to discuss your options further,
please call a Fidelity Representative at 1-800-544-8888.
Sincerely,
Edward McCartney
Executive Vice President
Product Management and Development
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 FUND AS OF MAY 22, 2000.
[second side of page for Retail letter]
COMPARISON OF FUNDS
(as of December 31, 1999)
FUND FIDELITY UNITED KINGDOM FUND FIDELITY EUROPE FUND
OBJECTIVE Long-term growth of capital Long-term growth of capital
STRATEGY (solid bullet) Normally (solid bullet) Normally
invests the fund's assets invests the fund's assets
primarily in common stocks primarily in common stocks
(solid bullet) Normally (solid bullet) Normally
invests at least 65% of the invests at least 65% of the
fund's assets in securities fund's total assets in
of British issuers. securities of issuers that
have their principal
activities in Europe. Europe
includes Austria, Belgium,
Belarus, Bulgaria, the Czech
Republic, Denmark, Estonia,
Finland, France, Germany,
Greece,
Hungary, Ireland, Italy,
Latvia, Lithuania,
Luxembourg, the
Nether-lands, Norway,
Poland, Portugal, Russia,
Slovakia, Slovenia, Spain,
Sweden, Switzerland, Turkey,
and the United Kingdom
NET ASSETS $6.9 million $1,477.7 million
INCEPTION DATE 11/95 10/86
FUND MANAGER Fred Gautier Thierry Serero
[premium version]
FIDELITY UNITED KINGDOM FUND
Dear Investor:
We are writing to inform you that on January 20, 2000, the Board of
Trustees approved a proposal to merge Fidelity United Kingdom Fund
into Fidelity Europe Fund. The potential merger should result in
operational efficiencies for the fund and related cost savings to
current shareholders of the fund.
The proposed merger requires approval by shareholders of Fidelity
United Kingdom Fund. A proxy statement providing more details of the
proposed merger will be mailed in May 2000. We anticipate that the
merger, if approved, should be completed by the end of July 2000. In
anticipation of the merger, Fidelity United Kingdom Fund will close to
all purchases (except dividend reinvestment) at the close of business
on April 19, 2000. Please be aware that all automatic investment
programs into the fund will terminate on this date.
We believe the merger is in the best interest of shareholders. The
investment objective of each fund is long-term growth of capital. The
principal difference between the funds is that Fidelity United Kingdom
Fund must invest at least 65% of its assets in securities of British
issuers, whereas Fidelity Europe Fund must invest 65% of its assets in
securities of issuers in Europe, which is defined to include 29
different countries (including the United Kingdom). The shareholders
of Fidelity United Kingdom Fund should benefit from the significantly
lower annual operating expenses of Fidelity Europe Fund. The attached
chart highlights key characteristics of both funds.
Thank you for your continued support of the Fidelity Funds. If you
have any questions, or would like to discuss your options further,
please call your Premium Services team at 1-800-544-4442, Monday
through Friday, 8:00 a.m. to 8:00 p.m.
Sincerely,
Edward McCartney
Executive Vice President
Product Management and Development
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 FUND AS OF MAY 22, 2000.
[second side of page for premium letter]
COMPARISON OF FUNDS
(as of December 31, 1999)
FUND FIDELITY UNITED KINGDOM FUND FIDELITY EUROPE FUND
OBJECTIVE Long-term growth of capital Long-term growth of capital
STRATEGY (solid bullet) Normally (solid bullet) Normally
invests the fund's assets invests the fund's assets
primarily in common stocks primarily in common stocks
(solid bullet) Normally (solid bullet) Normally
invests at least 65% of the invests at least 65% of the
fund's assets in securities fund's total assets in
of British issuers. securities of issuers that
have their principal
activities in Europe. Europe
includes Austria, Belgium,
Belarus, Bulgaria, the Czech
Republic, Denmark, Estonia,
Finland, France, Germany,
Greece,
Hungary, Ireland, Italy,
Latvia, Lithuania,
Luxembourg, the
Nether-lands, Norway,
Poland, Portugal, Russia,
Slovakia, Slovenia, Spain,
Sweden, Switzerland, Turkey,
and the United Kingdom
NET ASSETS $6.9 million $1,477.7 million
INCEPTION DATE 11/95 10/86
FUND MANAGER Fred Gautier Thierry Serero
[NFCS version]
FIDELITY UNITED KINGDOM FUND
Dear Investor:
We are writing to inform you that on January 20, 2000, the Board of
Trustees approved a proposal to merge Fidelity United Kingdom Fund
into Fidelity Europe Fund. The potential merger should result in
operational efficiencies for the fund and related cost savings to
current shareholders of the fund.
The proposed merger requires approval by shareholders of Fidelity
United Kingdom Fund. A proxy statement providing more details of the
proposed merger will be mailed in May 2000. We anticipate that the
merger, if approved, should be completed by the end of July 2000. In
anticipation of the merger, Fidelity United Kingdom Fund will close to
all purchases (except dividend reinvestment) at the close of business
on April 19, 2000. Please be aware that all automatic investment
programs into the fund will terminate on this date.
We believe the merger is in the best interest of shareholders. The
investment objective of each fund is long-term growth of capital. The
principal difference between the funds is that Fidelity United Kingdom
Fund must invest at least 65% of its assets in securities of British
issuers, whereas Fidelity Europe Fund must invest 65% of its assets in
securities of issuers in Europe, which is defined to include 29
different countries (including the United Kingdom). The shareholders
of Fidelity United Kingdom Fund should benefit from the significantly
lower annual operating expenses of Fidelity Europe Fund. The attached
chart highlights key characteristics of both funds.
Thank you for your continued support of the Fidelity Funds. If you
have any questions, or would like to discuss your options further,
please contact your broker or financial representative.
Sincerely,
Edward McCartney
Executive Vice President
Product Management and Development
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 FUND AS OF MAY 22, 2000.
[second side of page for NFCS letter]
COMPARISON OF FUNDS
(as of December 31, 1999)
FUND FIDELITY UNITED KINGDOM FUND FIDELITY EUROPE FUND
OBJECTIVE Long-term growth of capital Long-term growth of capital
STRATEGY (solid bullet) Normally (solid bullet) Normally
invests the fund's assets invests the fund's assets
primarily in common stocks primarily in common stocks
(solid bullet) Normally (solid bullet) Normally
invests at least 65% of the invests at least 65% of the
fund's assets in securities fund's total assets in
of British issuers. securities of issuers that
have their principal
activities in Europe. Europe
includes Austria, Belgium,
Belarus, Bulgaria, the Czech
Republic, Denmark, Estonia,
Finland, France, Germany,
Greece,
Hungary, Ireland, Italy,
Latvia, Lithuania,
Luxembourg, the
Nether-lands, Norway,
Poland, Portugal, Russia,
Slovakia, Slovenia, Spain,
Sweden, Switzerland, Turkey,
and the United Kingdom
NET ASSETS $6.9 million $1,477.7 million
INCEPTION DATE 11/95 10/86
FUND MANAGER Fred Gautier Thierry Serero
[FIIS Letterhead]
March XX, 2000
FIDELITY FRANCE FUND
Dear Shareholder:
I am writing to inform you that on January 20, 2000, the Board of
Trustees approved a proposal to merge Fidelity France Fund into
Fidelity Europe Fund. The potential merger should result in
operational efficiencies for the fund and related cost savings to
current shareholders of the fund.
The proposed merger requires approval by shareholders of Fidelity
France Fund. A proxy statement providing more details of the proposed
merger will be mailed in May 2000. We anticipate that the merger, if
approved, should be completed by the end of July 2000. In
anticipation of the merger, Fidelity France Fund will close to all
purchases (except dividend reinvestment) at the close of business on
April 19, 2000. Please be aware that all automatic investment
programs into the fund will terminate on this date.
We believe the merger is in the best interest of shareholders. The
investment objective of each fund is long-term growth of capital. The
principal difference between the funds is that Fidelity France Fund
must invest at least 65% of its assets in securities of French
issuers, whereas 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). The shareholders of Fidelity
France Fund should benefit from the significantly lower annual
operating expenses of Fidelity Europe Fund. The attached chart
highlights key characteristics of both funds.
Thank you for your continued support of Fidelity. If you have any
questions, please call your financial advisor.
Sincerely,
Daniel T. Geraci
Executive Vice President
Distribution and Marketing Communications
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE.
Not authorized for distribution unless preceded or accompanied by a
current fund prospectus.
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 Fund as of May 22, 2000.
6i98438
[second page of letter]
COMPARISON OF FUNDS
(as of December 31, 1999)
FUND FIDELITY FRANCE FUND FIDELITY EUROPE FUND
OBJECTIVE Long-term growth of capital Long-term growth of capital
STRATEGY (solid bullet) Normally (solid bullet) Normally
invests the fund's assets invests the fund's assets
primarily in common stocks primarily in common stocks
(solid bullet) Normally (solid bullet) Normally
invests at least 65% of the invests at least 65% of the
fund's assets in securities fund's total assets in
of French issuers. securities of issuers that
have their principal
activities in Europe. Europe
includes Austria, Belgium,
Belarus, Bulgaria, the Czech
Republic, Denmark, Estonia,
Finland, France, Germany,
Greece,
Hungary, Ireland, Italy,
Latvia, Lithuania,
Luxembourg, the
Nether-lands, Norway,
Poland, Portugal, Russia,
Slovakia, Slovenia, Spain,
Sweden, Switzerland, Turkey,
and the United Kingdom
NET ASSETS $13.5 million $1,477.7 million
INCEPTION DATE 11/95 10/86
FUND MANAGER Alexandra Hartmann Thierry Serero
[FIIS Letterhead]
March XX, 2000
FIDELITY GERMANY FUND
Dear Shareholder:
I am writing to inform you that on January 20, 2000, the Board of
Trustees approved a proposal to merge Fidelity Germany Fund into
Fidelity Europe Fund. The potential merger should result in
operational efficiencies for the fund and related cost savings to
current shareholders of the fund.
The proposed merger requires approval by shareholders of Fidelity
Germany Fund. A proxy statement providing more details of the
proposed merger will be mailed in May 2000. We anticipate that the
merger, if approved, should be completed by the end of July 2000. In
anticipation of the merger, Fidelity Germany Fund will close to all
purchases (except dividend reinvestment) at the close of business on
April 19, 2000. Please be aware that all automatic investment
programs into the fund will terminate on this date.
We believe the merger is in the best interest of shareholders. The
investment objective of each fund is long-term growth of capital. The
principal difference between the funds is that Fidelity Germany Fund
must invest at least 65% of its assets in securities of German
issuers, whereas Fidelity Europe Fund must invest 65% of its assets in
securities of issuers in Europe, which is defined to include 29
different countries (including Germany). The shareholders of Fidelity
Germany Fund should benefit from the significantly lower annual
operating expenses of Fidelity Europe Fund. The attached chart
highlights key characteristics of both funds.
Thank you for your continued support of Fidelity. If you have any
questions, please call your financial advisor.
Sincerely,
Daniel T. Geraci
Executive Vice President
Distribution and Marketing Communications
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE.
Not authorized for distribution unless preceded or accompanied by a
current fund prospectus.
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 Fund as of May 22, 2000.
6i98353
[second page of letter]
COMPARISON OF FUNDS
(as of December 31, 1999)
FUND FIDELITY GERMANY FUND FIDELITY EUROPE FUND
OBJECTIVE Long-term growth of capital Long-term growth of capital
STRATEGY (solid bullet) Normally (solid bullet) Normally
invests the fund's assets invests the fund's assets
primarily in common stocks primarily in common stocks
(solid bullet) Normally (solid bullet) Normally
invests at least 65% of the invests at least 65% of the
fund's assets in securities fund's total assets in
of German issuers. securities of issuers that
have their principal
activities in Europe. Europe
includes Austria, Belgium,
Belarus, Bulgaria, the Czech
Republic, Denmark, Estonia,
Finland, France, Germany,
Greece,
Hungary, Ireland, Italy,
Latvia, Lithuania,
Luxembourg, the
Nether-lands, Norway,
Poland, Portugal, Russia,
Slovakia, Slovenia, Spain,
Sweden, Switzerland, Turkey,
and the United Kingdom
NET ASSETS $29.3 million $1,477.7 million
INCEPTION DATE 11/95 10/86
FUND MANAGER Alexandra Hartmann Thierry Serero
[FIIS Letterhead]
March XX, 2000
FIDELITY UNITED KINGDOM FUND
Dear Shareholder:
I am writing to inform you that on January 20, 2000, the Board of
Trustees approved a proposal to merge Fidelity United Kingdom Fund
into Fidelity Europe Fund. The potential merger should result in
operational efficiencies for the fund and related cost savings to
current shareholders of the fund.
The proposed merger requires approval by shareholders of Fidelity
United Kingdom Fund. A proxy statement providing more details of the
proposed merger will be mailed in May 2000. We anticipate that the
merger, if approved, should be completed by the end of July 2000. In
anticipation of the merger, Fidelity United Kingdom Fund will close to
all purchases (except dividend reinvestment) at the close of business
on April 19, 2000. Please be aware that all automatic investment
programs into the fund will terminate on this date.
We believe the merger is in the best interest of shareholders. The
investment objective of each fund is long-term growth of capital. The
principal difference between the funds is that Fidelity United Kingdom
Fund must invest at least 65% of its assets in securities of British
issuers, whereas Fidelity Europe Fund must invest 65% of its assets in
securities of issuers in Europe, which is defined to include 29
different countries (including the United Kingdom). The shareholders
of Fidelity United Kingdom Fund should benefit from the significantly
lower annual operating expenses of Fidelity Europe Fund. The attached
chart highlights key characteristics of both funds.
Thank you for your continued support of Fidelity. If you have any
questions, please call your financial advisor.
Sincerely,
Daniel T. Geraci
Executive Vice President
Distribution and Marketing Communications
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE.
Not authorized for distribution unless preceded or accompanied by a
current fund prospectus.
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 Fund as of May 22, 2000.
6i98357
[second page of letter]
COMPARISON OF FUNDS
(as of December 31, 1999)
FUND FIDELITY UNITED KINGDOM FUND FIDELITY EUROPE FUND
OBJECTIVE Long-term growth of capital Long-term growth of capital
STRATEGY (solid bullet) Normally (solid bullet) Normally
invests the fund's assets invests the fund's assets
primarily in common stocks primarily in common stocks
(solid bullet) Normally (solid bullet) Normally
invests at least 65% of the invests at least 65% of the
fund's assets in securities fund's total assets in
of British issuers. securities of issuers that
have their principal
activities in Europe. Europe
includes Austria, Belgium,
Belarus, Bulgaria, the Czech
Republic, Denmark, Estonia,
Finland, France, Germany,
Greece,
Hungary, Ireland, Italy,
Latvia, Lithuania,
Luxembourg, the
Nether-lands, Norway,
Poland, Portugal, Russia,
Slovakia, Slovenia, Spain,
Sweden, Switzerland, Turkey,
and the United Kingdom
NET ASSETS $6.9 million $1,477.7 million
INCEPTION DATE 11/95 10/86
FUND MANAGER Fred Gautier Thierry Serero
