Important Changes to Fidelity Funds Fidelity Funds Korea Fund closure. Key Facts We are closing the Fidelity Funds Korea Fund on 24 August 2017.

Transcription

1 Fidelity s Société d Investissement à Capital Variable 2a rue Albert Borschette, L-1246 B.P. 2174, L-1021 Luxembourg Tél: Fax: R.C.S. Luxembourg B Important Changes to Fidelity s Fidelity s Korea closure Key Facts We are closing the Fidelity s Korea on 24 August Shareholder Choices You can switch your Shares to any other fund available to you. You can redeem your Shares. You may take no action, in which case your investment will be automatically redeemed. Decisions must be effected by 23 August 2017 Dear Shareholder, 26 May 2017 As part of the ongoing process whereby Fidelity regularly reviews its ranges of funds, I am writing to notify you of the decision taken by the Board of Directors of Fidelity s ( the Board ) to close the Fidelity s - Korea (the ) on 24 August 2017 or such later date as may be decided by the Board. Our records show that you are a shareholder in the (the Shareholders or you ). For more information on the impacted classes of Shares and the corresponding ISIN Codes, please refer to Appendix A enclosed herein. Any terms not defined herein shall have the same meaning as in the Singapore prospectus of Fidelity s (the Prospectus ). Rationale for and Impact of the Closure The decision to close the has been taken in light of the fact that the s annualised return since January 2011 has underperformed against its reference index. The Board believes that it is not in the best interests of Shareholders for the to continue. Please be aware that further subscriptions and switches into the will not be permitted from 20 July 2017 * onwards. The Board believes that the Change is in the best interest of the Shareholders.

2 Shareholder Choices For Shareholders who are currently invested in the using their CPFIS - Ordinary Account (OA) monies, the following options are available to you. For these options, Fidelity would bear the transaction charges levied by your own CPF agent bank and/or your distributor: 1) A switch, free of switching charge, of all of your Shares into any other class SR Shares of another sub-fund of Fidelity s currently included under. Please refer to the Prospectus or Appendix B enclosed herein for the list of other sub-funds that are available for investment under the CPFIS^; or 2) Redemption of all of your holdings, free of redemption charge. The redemption proceeds will be paid to your CPF Investment Account held with your agent bank. For Shareholders who are currently invested in the using their Supplementary Retirement Scheme (SRS) monies, the following options are available to you. For these options, you may be required to bear the transaction charges, if any, levied by your own SRS agent bank. 1) A switch, free of switching charge, of all of your Shares into any other class of Shares of another sub-fund of Fidelity s currently available under SRS. Please refer to the Prospectus for the list of sub-funds that are available for investment under the SRS; or 2) Redemption of all of your holdings, free of redemption charge. The redemption proceeds will be credited directly to your SRS agent bank. For all other Shareholders, the following options are available to you: 1) We are offering a free switch of your existing shares in the into any other Fidelity funds available to you, or, 2) You may redeem your existing shares in the, free of charge. The redemption proceeds will be sent directly to your bank. If you take no action, then your investment will be automatically redeemed in the respective Share class currency (unless instructed otherwise) free from any redemption charge at the Net Asset Value per Share calculated on closure date 24 August 2017 and the proceeds will be sent directly to your bank / CPF agent bank / SRS agent bank, where applicable. Different procedures may apply if dealing through an adviser or other fund distributor. For further information on these arrangements, please contact your financial adviser. If you wish to switch or redeem your shares in the, you should contact your Financial Adviser or your usual contact at the distributor / intermediary whom you normally transact with. You may switch or redeem your shares on any Valuation Date until 5.00pm Singapore time * on 23 August 2017 and the next calculated Net Asset Value per Share will apply. Mailing, audit and any other charges that may arise associated with the closure of the will be borne by FIL Management Limited as the Investment Manager of Fidelity s. Please note that the redemption or the switching of your holding may be deemed as a disposal for tax purposes. If you have any concerns about your tax position, we recommend that you seek independent tax advice. Amounts which cannot be distributed will be held in escrow accounts by the Caisse de Consignation in Luxembourg. Shareholders should contact their own distributors or financial advisors for funds that are available to them for investment. * Please note that different procedures may apply if dealing in Shares is made through distributors or other intermediaries. Except for Shareholders investing using their CPFIS-OA monies, please note that some distributors or other intermediaries may charge additional fees (such as switching or transaction fees) or other expenses at their own discretion. For further information, please contact your financial adviser or your usual contact at the distributor / intermediary whom you transact with.

3 The Board accepts full responsibility for the accuracy of the content of this letter and confirms, having made all reasonable enquiries, that to the best of its knowledge and belief there are no other facts the omission of which would make any statement herein misleading. I would like to thank you for your investment, and I look forward to helping you with future requests. If you have any questions related to the closure of the, please contact your usual Financial Adviser or FIL Investment Management (Singapore) Limited at Tel. No.: Yours sincerely, Marc Wathelet Director, FIL ( Luxembourg ) S.A. Corporate Director, Fidelity s CL

4 Appendix A Share classes and ISIN Codes: Classes of Shares FF - Korea A-USD FF - Korea Y-ACC-USD ISIN Codes LU LU

5 Appendix B SUB-FUNDS OF FIDELITY FUNDS INCLUDED UNDER THE CENTRAL PROVIDENT FUND INVESTMENT SCHEME ( CPFIS ) The sub-funds included under the CPFIS ordinary account ( ) for investment by CPF members using their CPF monies ( CPFIS Included s ), together with the CPFIS risk classifications are as follows: Equity Sub-s Sub- CPFIS Risk Classification Included Under Class of Shares Fidelity s America North America SR-ACC-USD (hedged) Fidelity s Asia Focus Asia Fidelity s Asian Special Situations Asia Fidelity s China Focus Focused Country Greater China Fidelity s Emerging Markets Emerging Markets Fidelity s European Growth Europe SR-ACC-Euro Fidelity s Greater China Focused Country Greater China Equity Income Sub-s Sub- CPFIS Risk Classification Included Under Class of Shares Fidelity s Global Dividend Higher Risk Broadly Diversified CPFIS-OA SR-MINCOME(G)- SGD Please note that the Fidelity s - Greater China is currently undergoing a re-evaluation by Mercer, the consultant appointed by the CPF Board, as at the date of issue of this letter.