Fidelity^® Sustainable Emerging Markets Equity Fund: Investment Approach

• Fidelity^® Sustainable Emerging Markets Equity Fund is a diversified international equity strategy that seeks capital appreciation by investing primarily in emerging markets stocks that we believe have proven or improving sustainability practices based on an evaluation of such companies' environmental, social, and governance (ESG) profile.
• The portfolio is a pure play on Fidelity's research. We identify the best ESG ideas from research focusing on Fidelity's proprietary analyst ratings and research coverage portfolios with special attention paid to due diligence on companies with improving ESG trends not captured by the major third-party ESG data providers.
• We combine active stock selection with quantitative risk controls aiming to add value while minimizing relative volatility and risk versus the MSCI Emerging Markets Index, offering investors core emerging markets exposure with an ESG orientation.