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Changes to Fidelity Investment Funds - Sustainable Water & Waste Fund

From 26th May 2020, the investment policy of the above fund will change in order to provide the portfolio manager greater flexibility to invest in companies across the globe that are best placed to benefit from the growing demand for clean water and sanitation, as well as the need to manage waste from a growing population. For example, this can include companies involved in the design, manufacture and sale of products and services, or companies developing new technologies for these sectors.

The change will not affect the risk profile of the fund. You can see the revised investment policy in the table below.

 

                                                                             Investment policy
New Current

The Fund will invest at least 60% in the equity securities of sustainable water and waste companies. These are companies globally which maintain sustainable characteristics and are involved in the design, manufacture or sale of products and services used for or in connection with water and waste management.

Companies with sustainable characteristics are those which the Investment Manager believes have effective governance and management of environmental and social issues (sustainable characteristics).

The Fund will invest:

  • At least 70% in equities (and their related securities) in water and waste management companies;
  • At least 70% in equities (and their related securities) of companies which maintain sustainable characteristics;
  • At least 60% in equities (and their related securities) of water and waste management companies which themselves maintain sustainable characteristics.

The Fund is actively managed without reference to a benchmark.

The Investment Manager is not restricted in terms of size, or geographical split and may invest in countries considered to be emerging markets as determined by the Investment Manager at its sole discretion.

The Fund may also invest in companies globally which demonstrate improving sustainable characteristics and also invest in other transferable securities, collective investment schemes, money market instruments, cash and deposits and is also able to use derivatives for efficient portfolio management purposes.

The Investment Manager will assess companies using quantitative and qualitative factors and in doing so may use data from proprietary models, local intelligence, undertake company visits and use data provided by external ESG (Environmental, Social and Governance) score providers to form an assessment of their sustainable characteristics

The Fund will invest at least 70% in equities (and their related securities) of water and waste management companies globally which maintain sustainable characteristics.

Water and waste management companies include, but are not limited to, those involved in the design, manufacture or sale of products and services used for or in connection with the water and waste management sector.

Companies with sustainable characteristics are those which the Investment Manager believes have effective governance and management of environmental and social issues (sustainable characteristics).

The Fund is actively managed without reference to a benchmark. The Investment Manager is not restricted in terms of size, or geographical split and may invest in countries considered to be emerging markets as determined by the Investment Manager at its sole discretion.

The Fund may also invest in transferable securities, collective investment schemes, money market instruments, cash and deposits and is also able to use derivatives for efficient portfolio management purposes.

The Investment Manager will assess companies using quantitative and qualitative factors and in doing so may use data from proprietary models, local intelligence, undertake company visits and use data provided by external ESG (Environmental, Social and Governance) score providers to form an assessment of their sustainable characteristics