**Supplement to the**

**Fidelity**®**Diversified International Fund (FDIVX), Fidelity Global Commodity Stock Fund (FFGCX), Fidelity InternationalCapital Appreciation Fund (FIVFX), Fidelity International Discovery Fund (FIGRX), Fidelity International Growth Fund(FIGFX), Fidelity International Value Fund (FIVLX), Fidelity Overseas Fund (FOSFX), Fidelity Total International EquityFund (FTIEX), and Fidelity Worldwide Fund (FWWFX)**

**Fidelity Diversified International Fund is a Class of shares of Fidelity Diversified International Fund; Fidelity GlobalCommodity Stock Fund is a Class of shares of Fidelity Global Commodity Stock Fund; Fidelity International Discovery Fundis a Class of shares of Fidelity International Discovery Fund; Fidelity International Growth Fund is a Class of shares ofFidelity International Growth Fund; Fidelity International Value Fund is a Class of shares of Fidelity International ValueFund; Fidelity Overseas Fund is a Class of shares of Fidelity Overseas Fund; Fidelity Total International Equity Fund is aClass of shares of Fidelity Total International Equity Fund; and Fidelity Worldwide Fund is a Class of shares of FidelityWorldwide Fund**

**Funds of Fidelity Investment Trust**

**STATEMENT OF ADDITIONAL INFORMATION**

**December 30, 2010**

*The general research services agreement with Fidelity Research & Analysis Company has been terminated on behalf of the funds.*

*The following information supplements existing disclosure in the "Investment Policies and Limitations" section.*

**Investments by Funds of Funds or Other Large Shareholders.** Certain funds and accounts that are managed by FMR or its affiliates(including funds of funds) invest in other funds and may at times have substantial investments in one or more other funds.

A fund may experience large redemptions or investments due to transactions in fund shares by funds of funds, other large shareholders, orsimilarly managed accounts. While it is impossible to predict the overall effect of these transactions over time, there could be an adverse impacton a fund's performance. In the event of such redemptions or investments, a fund could be required to sell securities or to invest cash at a timewhen it may not otherwise desire to do so. Such transactions may increase a fund's brokerage and/or other transaction costs. In addition, whenfunds of funds or other investors own a substantial portion of a fund's shares, a large redemption by a fund of funds could cause actual expensesto increase, or could result in the fund's current expenses being allocated over a smaller asset base, leading to an increase in the fund's expenseratio. Redemptions of fund shares could also accelerate the realization of taxable capital gains in the fund if sales of securities result in capitalgains. The impact of these transactions is likely to be greater when a fund of funds or other significant investor purchases, redeems, or owns asubstantial portion of the fund's shares.

When possible, Fidelity will consider how to minimize these potential adverse effects, and may take such actions as it deems appropriate toaddress potential adverse effects, including redemption of shares in-kind rather than in cash or carrying out the transactions over a period oftime, although there can be no assurance that such actions will be successful.

*The following information replaces similar information for George Stairs found in the "Management Contracts" section beginning onpage 47.*

Alexander Zavratsky is the portfolio manager of Fidelity International Value Fund and co-manager of Fidelity Total International EquityFund and receives compensation for his services. As of September 30, 2011, portfolio manager compensation generally consists of a fixed basesalary determined periodically (typically annually), a bonus, in certain cases, participation in several types of equity-based compensationplans, and, if applicable, relocation plan benefits. A portion of the portfolio 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 (i) 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, and (ii) the investment performance of other FMRinternational equity funds and accounts. The pre-tax investment performance of the portfolio manager's fund(s) and account(s) is weightedaccording to his tenure on those fund(s) and account(s) and the average asset size of those fund(s) and account(s) over his tenure. Each component is calculated separately over the portfolio manager's tenure on those fund(s) and account(s) over a measurement period that initially iscontemporaneous with his tenure, but that eventually encompasses rolling periods of up to five years for the comparison to a benchmark indexand rolling periods of up to three years for the comparison to a peer group. A smaller, subjective component of the portfolio manager's bonus isbased on the portfolio manager's overall contribution to management of FMR. The portion of the portfolio manager's bonus that is linked to theinvestment performance of Fidelity International Value Fund is based on the fund's pre-tax investment performance measured against theMSCI EAFE Value Index (net MA tax), and the fund's pre-tax investment performance (based on the performance of the fund's retail class)within the Morningstar Foreign Large Value, Foreign Mid-Cap Value, and Foreign Small Value Categories. The portion of the portfolio manager's bonus that is linked to the investment performance of Fidelity Total International Equity Fund is based on the pre-tax investment performance of the fund measured against the MSCI ACWI (All Country World Index) ex USA Index (net MA tax), and the pre-tax investmentperformance of the fund (based on the performance of the fund's retail class) within the Morningstar Foreign Large Growth, Foreign LargeValue, Foreign Large Blend, Foreign Small/Mid-Cap Growth, and Foreign Small/Mid-Cap Value Categories. An additional portion of theportfolio manager's bonus is based on the pre-tax investment performance of the portion of Fidelity Total International Equity Fund's assets hemanages measured against the MSCI EAFE Value Index (net MA tax), and the pre-tax investment performance (based on the performance ofthe fund's retail class) of the portion of the fund's assets he manages within the Morningstar Foreign Large Value and Foreign Small/Mid-CapValue Categories. The portfolio manager also is compensated under equity-based compensation plans linked to increases or decreases in thenet asset value of the stock of FMR LLC, FMR's parent company. FMR LLC is a diverse financial services company engaged in variousactivities that include fund management, brokerage, retirement, and employer administrative services. If requested to relocate their primaryresidence, portfolio managers also may be eligible to receive benefits, such as home sale assistance and payment of certain moving expenses,under relocation plans for most full-time employees of FMR LLC and its affiliates.

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The portfolio manager's compensation plan may give rise to potential conflicts of interest. Although investors in a fund may invest througheither tax-deferred accounts or taxable accounts, the portfolio manager's compensation is linked to the pre-tax performance of the fund, ratherthan 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 link compensationto sales. When a portfolio manager takes over a fund or an account, the time period over which performance is measured may be adjusted toprovide a transition period in which to assess the portfolio. The management of multiple funds and accounts (including proprietary accounts)may give rise to potential conflicts of interest if the funds and accounts have different objectives, benchmarks, time horizons, and fees as theportfolio manager must allocate his time and investment ideas across multiple funds and accounts. In addition, a fund's trade allocation policiesand procedures may give rise to conflicts of interest if the fund's orders do not get fully executed due to being aggregated with those of otheraccounts managed by FMR or an affiliate. The portfolio manager may execute transactions for another fund or account that may adverselyimpact the value of securities held by a fund. Securities selected for other funds or accounts may outperform the securities selected for the fund.Portfolio managers may be permitted to invest in the funds they manage, even if a fund is closed to new investors. Trading in personal 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. Zavratsky as of September 30, 2011: