Fidelity Trusts

To achieve long-term capital growth principally from the stock markets of the Asian region excluding Japan. The Company's performance will be measured against the return of the MSCI AC Asia ex Japan Small Cap Index (net) total return (in Sterling terms).

To achieve long-term capital growth from an actively managed portfolio made up primarily of securities issued by companies listed in China and Chinese companies listed elsewhere. The Company may also invest in listed companies with significant interests in China.

To achieve long term growth in both capital and income by predominantly investing in equities (and their related securities) of continental European companies.

To achieve long term capital growth by investing predominantly in equities and their related securities of Japanese companies.

To achieve long term capital growth primarily through investment in equities (and their related securities) of UK companies which the Investment Manager believes to be undervalued or where the potential has not been recognised by the market. It is an actively managed contrarian investment trust that thrives on volatility and uncertainty.