REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

ON INTERNAL CONTROL REQUIRED BY FORM N-SAR

 

To the Board of Trustees and Shareholders of Fidelity InvestmentTrust:

In planning and performing our audit of the financial statements of FidelityInvestment Trust: Fidelity Emerging Markets Discovery Fund and Fidelity TotalEmerging Markets Fund(collectively, the "Trust") as of and for the year ended October31, 2012, in accordance with the standards of the Public Company AccountingOversight Board (United States), we considered the Trust's internal control overfinancial reporting, including controls over safeguarding securities, as a basisfor designing our auditing procedures for the purpose of expressing our opinionon the financial statements and to comply with the requirements of Form N-SAR,but not for the purpose of expressing an opinion on the effectiveness of theTrust's internal control over financial reporting. Accordingly, we do notexpress an opinion on the effectiveness of the Trust's internal control overfinancial reporting.
The management of the Trust is responsible for establishing and maintainingeffective internal control over financial reporting. In fulfilling thisresponsibility, estimates and judgments by management are required to assess theexpected benefits and related costs of controls. A company's internal controlover financial reporting is a process designed to provide reasonable assuranceregarding the reliability of financial reporting and the preparation offinancial statements for external purposes in accordance with generally acceptedaccounting principles. A company's internal control over financial reportingincludes those policies and procedures that (1) pertain to the maintenance ofrecords that, in reasonable detail, accurately and fairly reflect thetransactions and dispositions of the assets of the company; (2) providereasonable assurance that transactions are recorded as necessary to permitpreparation of financial statements in accordance with generally acceptedaccounting principles, and that receipts and expenditures of the Trust are beingmade only in accordance with authorizations of management and trustees of thecompany; and (3) provide reasonable assurance regarding prevention or timelydetection of unauthorized acquisition, use or disposition of a Trust's assetsthat could have a material effect on the financial statements.

Because of inherent limitations, internal control over financial reportingmay not prevent or detect misstatements. Also, projections of any evaluation ofeffectiveness to future periods are subject to the risk that controls may becomeinadequate because of changes in conditions, or that the degree of compliancewith the policies or procedures may deteriorate. 

A deficiency in internal control over financial reporting exists when thedesign or operation of a control does not allow management or employees, in thenormal course of performing their assigned functions, to prevent or detectmisstatements on a timely basis. A material weakness is a deficiency, or acombination of deficiencies, in internal control over financial reporting, suchthat there is a reasonable possibility that a material misstatement of theTrust's annual or interim financial statements will not be prevented or detectedon a timely basis.

Our consideration of the Trust's internal control over financial reportingwas for the limited purpose described in the first paragraph and would notnecessarily disclose all deficiencies in internal control over financialreporting that might be material weaknesses under standards established by thePublic Company Accounting Oversight Board (United States). However, we noted nodeficiencies in the Trust's internal control over financial reporting and itsoperation, including controls over safeguarding securities that we consider tobe material weaknesses as defined above as of October 31, 2012.

 

 

 

 

 

This report is intended solely for the information and use of management andthe Board of Trustees of Fidelity Investment Trust and the Securities andExchange Commission and is not intended to be and should not be used by anyoneother than these specified parties. 

 

 

 

/s/ PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

December 17, 2012

Boston, MA