Benefits of investing in the Fidelity Global Demographics Fund

Some of the benefits that may arise from an investment in the Fund include:

• Potential to earn higher returns than the Fund's benchmark, the MSCI All Country World Index NR over the suggested time frame.
• Access to the investment knowledge and expertise of Fidelity's global network of investment professionals who can assess the foreign operations of the companies they cover.

Investor suitability

Investors looking for a global equities investment who have a tolerance for a very high amount of risk.

About the Fund

A diversified portfolio of typically 50 to 70 companies globally where demographic factors are likely to be the most important driver of companies earnings over the medium-to-long term.

Uses a rigorous analysis to categorise companies into whether they have already benefited from demographic trends and those who are likely to win in the future - typically domestic leaders in new growth markets or innovators.

A portfolio of both winners of today' and winners of tomorrow' focused on companies with strong management and diversified across geographies and market cap.

The Fidelity Global Demographics Fund has features which include:

• Access to an actively managed portfolio of global shares, investing in companies where demographic factors are likely to be the single most important driver of company earnings growth over the medium to long term.

• We believe demographic shifts - population growth, the emergence of new middle classes and an ageing population - are strong influences on the long-term earnings power of many companies.

• By investing in companies affected by demographic trends, we aim to outperform the Fund's benchmark, the MSCI All Country World Index NR over five to seven years.

How we invest your money

The Fund invests in a portfolio of actively managed securities, in relation to which Fidelity believes demographic factors in markets in which those companies operate are the single-most-important drivers of the growth of those companies. Relevant demographic factors include population growth, the emergence of new middle classes and an ageing population.

The Fund adopts an unconstrained bottom-up stock picking approach, looking for companies whose earnings power is - or will be - sustained by demographic trends.

The portfolio will generally consist of two types of companies:

1. Global leaders, whom we believe are dominant in their respective areas that already benefit from demographic factors to deliver a proven track record of earnings growth and high returns even in tough economic conditions. Usually these are larger companies listed in developed markets, although they will often have extensive global networks that allow them to harness the benefits of demographic changes in emerging markets.
2. Domestic leaders in new growth markets, or innovators bringing new products to market that we believe benefit from demographic factors with the potential for strong future growth. These companies are often more local in nature and have a mid- to small-cap bias. We believe these companies offer higher return potential but are also more volatile stocks and therefore tend to be smaller positions in the Fund.

The Fund's exposure to international securities will not be hedged back to Australian dollars. This means that the value of an investment in the Fund will change not only on the basis of a change in asset values, but also because of movements in exchange rates.

Asset classes and ranges

• Global Securities: 90% to 100%

• Cash: 0% to 10%