**Supplement to the**

**Fidelity**®**International Small Cap Fund (FISMX) and Fidelity International Small Cap Opportunities Fund (FSCOX)**

**Fidelity International Small Cap Fund is a Class of shares of Fidelity International Small Cap Fund and Fidelity InternationalSmall Cap Opportunities Fund is a Class of shares of Fidelity International Small Cap Opportunities Fund**

**Funds of Fidelity Investment Trust**

**STATEMENT OF ADDITIONAL INFORMATION**

**December 30, 2013**

*Dale Nicholls, Nicholas Price, and Colin Stone no longer serve as co-managers of Fidelity International Small Cap Fund. Sam Chamovitz serves as portfolio manager of Fidelity International Small Cap Fund.*

*A special meeting of Fidelity International Small Cap Fund shareholders was held on March 18, 2014. Shareholders approved a newmanagement contract that will change the performance adjustment index. This change will take effect on April 1, 2014*.

*Effective April 1, 2014, the following information replaces the similar information under "Computing the Performance Adjustment" inthe "Management Contracts" section on page 51.*

**Computing the Performance Adjustment.**The basic fee for each of Fidelity International Small Cap Fund and Fidelity InternationalSmall Cap Opportunities Fund is subject to upward or downward adjustment, depending upon whether, and to what extent, the fund's investment performance for the performance period exceeds, or is exceeded by, the record over the same period of a blend of the MSCI® EAFE®Small Cap Index and the MSCI All Country World (ACWI) ex U.S. Small Cap Index for Fidelity International Small Cap Fund and the MSCIEAFE Small Cap Index for Fidelity International Small Cap Opportunities Fund. The performance period consists of the most recent monthplus the previous 35 months.

For the period prior to April 1, 2014, Fidelity International Small Cap Fund compares its performance to the MSCI EAFE Small Cap Index(Prior Index). For the period beginning April 1, 2014, Fidelity International Small Cap Fund compares its performance to the MSCI ACWI exU.S. Small Cap Index (Current Index). Because the performance adjustment is based on a rolling 36 month measurement period, during atransition period Fidelity International Small Cap Fund's performance will be compared to a 36 month blended index return that reflects theperformance of the Current Index for the portion of the 36 month performance measurement period beginning April 1, 2014 and the performance of the Prior Index for the remainder of the measurement period. At the conclusion of the transition period, the performance of the PriorIndex will be eliminated from the performance adjustment calculation, and the calculation will include only the performance of the CurrentIndex.

*Effective April 1, 2014, the following information replaces the similar information found in the "Management Contracts" section onpage 51.*

The records of the MSCI EAFE Small Cap Index and the MSCI ACWI ex U.S. Small Cap Index for Fidelity International Small Cap Fundare based on change in value and each is adjusted for any cash distributions from the companies whose securities compose the indexes. Becausethe adjustment to the basic fee is based on Fidelity International Small Cap Fund's performance compared to the blended investment records ofthe MSCI EAFE Small Cap Index and the MSCI ACWI ex U.S. Small Cap Index, the controlling factor is not whether the fund's performanceis up or down per se, but whether it is up or down more or less than the blended records of the indexes. The record of the MSCI EAFE Small CapIndex is based on change in value and is adjusted for any cash distributions from the companies whose securities compose the index. Becausethe adjustment to the basic fee is based on Fidelity International Small Cap Opportunities Fund's performance compared to the investmentrecord of the index, the controlling factor is not whether the fund's performance is up or down per se, but whether it is up or down more or lessthan the record of the MSCI EAFE Small Cap Index. Moreover, the comparative investment performance of each fund is based solely on therelevant performance period without regard to the cumulative performance over a longer or shorter period of time.

The index returns for the MSCI EAFE Small Cap Index are adjusted for tax withholding at treaty rates applicable to U.S.-based mutualfunds organized as Massachusetts business trusts. The index returns for the MSCI ACWI ex U.S. Small Cap Index, for periods after March31, 2014, are adjusted for tax withholding at treaty rates applicable to U.S.-based mutual funds organized as Massachusetts business trusts.

*The following information replaces similar information found in the "Management Contracts" section on page 52.*

Currently, FMR Japan has day-to-day responsibility for choosing investments for Fidelity International Small Cap Fund.

```

ISCB-14-02		May 8, 2014
1.782429.114
```

*The following information replaces similar information found in the "Management Contracts" section beginning on page 52.*

Sam Chamovitz is the portfolio manager of Fidelity International Small Cap Fund and receives compensation for his services. As of March31, 2014, portfolio manager compensation generally consists of a fixed base salary determined periodically (typically annually), a bonus, incertain cases, participation in several types of equity-based compensation plans, and, if applicable, relocation plan benefits. A portion of theportfolio manager's compensation may be deferred based on criteria established by FMR or at the election of the portfolio manager.

The portfolio manager's base salary is determined by level of responsibility and tenure at FMR or its affiliates. The primary components ofthe portfolio manager's bonus are based on the pre-tax investment performance of the portfolio manager's fund(s) and account(s) measuredagainst a benchmark index and within a defined peer group assigned to each fund or account, if applicable. The pre-tax investment performance of the portfolio manager's fund(s) and account(s) is weighted according to the portfolio manager's tenure on those fund(s) and account(s) and the average asset size of those fund(s) and account(s) over the portfolio manager's tenure. Each component is calculatedseparately over the portfolio manager's tenure on those fund(s) and account(s) over a measurement period that initially is contemporaneouswith the portfolio manager's tenure, but that eventually encompasses rolling periods of up to five years for the comparison to a benchmarkindex and rolling periods of up to three years for the comparison to a peer group, if applicable. A smaller, subjective component of the portfoliomanager's bonus is based on the portfolio manager's overall contribution to management of FMR. The portion of the portfolio manager'sbonus that is linked to the investment performance of Fidelity International Small Cap Fund is based on the pre-tax investment performance ofthe fund measured against the MSCI ACWI (All Country World Index) ex USA Small Cap (net MA tax) (effective April 1, 2014), and thepre-tax investment performance of the fund (based on the performance of the fund's retail class) within the Lipper International Small CapFunds. The portfolio manager also is compensated under equity-based compensation plans linked to increases or decreases in the net assetvalue of the stock of FMR LLC, FMR's parent company. FMR LLC is a diverse financial services company engaged in various activities thatinclude fund management, brokerage, retirement, and employer administrative services. If requested to relocate their primary residence, portfolio managers also may be eligible to receive benefits, such as home sale assistance and payment of certain moving expenses, under relocationplans for most full-time employees of FMR LLC and its affiliates.

The portfolio manager's compensation plan may give rise to potential conflicts of interest. Although investors in the fund may investthrough either tax-deferred accounts or taxable accounts, the portfolio manager's compensation is linked to the pre-tax performance of thefund, rather than its after-tax performance. The portfolio manager's base pay tends to increase with additional and more complex responsibilities that include increased assets under management and a portion of the bonus relates to marketing efforts, which together indirectly linkcompensation to sales. When a portfolio manager takes over a fund or an account, the time period over which performance is measured may beadjusted to provide a transition period in which to assess the portfolio. The management of multiple funds and accounts (including proprietaryaccounts) may give rise to potential conflicts of interest if the funds and accounts have different objectives, benchmarks, time horizons, andfees as the portfolio manager must allocate his time and investment ideas across multiple funds and accounts. In addition, a fund's trade allocation policies and procedures may give rise to conflicts of interest if the fund's orders do not get fully executed due to being aggregated withthose of other accounts managed by FMR or an affiliate. The portfolio manager may execute transactions for another fund or account that mayadversely impact the value of securities held by a fund. Securities selected for other funds or accounts may outperform the securities selectedfor the fund. Portfolio managers may be permitted to invest in the funds they manage, even if a fund is closed to new investors. Trading inpersonal accounts, which may give rise to potential conflicts of interest, is restricted by a fund's Code of Ethics.

The following table provides information relating to other accounts managed by Mr. Chamovitz as of March 31, 2014: